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Policyholders have an opportunity on the policy anniversary date to opt out of the annual increase or to change the payment frequency. This means that notification of the pending increase will be sent out and then after a certain period the increases will be recalculated only for the policies for which the annual increase has not been opted out of and taking into account any changes in the frequency.
The increase notifications will be generated but the new payment records will not be created until the expiry of a defined period prior to the date of the increase.