(1) If the single premium, or the first premium, is not paid in good time, the insurer is entitled to withdraw from the contract as long as the payment has not been made, unless the policyholder is not responsible for the non-payment.
(2) If the single premium, or first premium, has not been paid when the insured event occurs, the insurer is not obliged to effect payment, unless the policyholder is not responsible for the non-payment. The insurer is only released from liability if he or she had informed the policyholder of the legal consequence of non-payment of the premium in writing in a separate communication or by means of a conspicuous note in the insurance policy.