PocketLaw | Michigan Compiled Laws | Chapter 40 Life Insurance

Chapter 40 Life Insurance Policies and Annuity Contract (Other Than Industrial or Group) (500.4000...500.4073)

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Section
500.4000

Scope of Chapter.

Section
500.4001

Universal Life Insurance; Definitions.

Section
500.4004

Entire Contract.

Section
500.4008

Life Insurance; Provisions Required; Single Premium Policies.

Section
500.4010

Premiums; Payment; Provision Required.

Section
500.4012

Life Insurance Policy; Provision Required.

Section
500.4014

Entire Contract; Incontestability; Exceptions.

Section
500.4015

Policy of Life Insurance; Mandatory Notice as to Cancellation of Policy and Refund of Premium.

Section
500.4016

Statements Considered Representations; Provision Required; Electronic Application; Endorsement.

Section
500.4018

Misstatement of Age or Sex; Provisions Required.

Section
500.4020

Participation in Surplus; Provision Required.

Section
500.4022

Policy Loans Generally.

Section
500.4023

Policy Loans; Interest Rates; Notice; Information; Policy Not to Terminate as Sole Result of Change in Interest Rate; Applicability of Section to Insurance or Annuity Contract.

Section
500.4024

Nonforfeiture Benefits; Cash Surrender Values; Provision Required.

Section
500.4026

Table of Loan Values and Options; Provision Required.

Section
500.4028

Default in Premium Payments; Reinstatement; Provision Required.

Section
500.4030

Settlement of Claim Upon Death of Insured; Provision Required.

Section
500.4032

Table of Installments; Provision Required.

Section
500.4036

Title Required.

Section
500.4037

Universal Life Insurance Policy; Provisions Required.

Section
500.4038

“Policy Cost Factors” Defined; Initial Disclosure; Statement of Policy Information; Delivery; Extension of Free-Look Period; Furnishing Statement at Time of Policy Delivery.

Section
500.4040

Safeguard Against Lapse; Special Surrender Value; Optional Provisions; Supplemental Contract.

Section
500.4042

Liability Limitation; Aviation, Military or Naval Service.

Section
500.4046

Provisions Prohibited; Forfeiture of Policy for Failure to Repay Loan; Limitation of Actions; Predating Policy; Settlement at Maturity for Less Than Full Value.

Section
500.4047

Profit Sharing, Charter or Founders and Coupon Policies; Definitions; Prohibitions, Violations.

Section
500.4048

Provisions Required by Laws of Other States or Counties.

Section
500.4052

Preliminary Term Insurance on Old Policies; Reserve.

Section
500.4054

Proceeds of Policy; Exemption From Creditors.

Section
500.4058

Nonforfeiture Benefits on Old Policies.

Section
500.4060

Standard Nonforfeiture Law for Life Insurance.

Section
500.4061

Flexible Premium Universal Life Insurance Policies; Provisions Applicable to Minimum Cash Surrender Values; Minimum Paid-Up Nonforfeiture Benefits.

Section
500.4062

Loan Value; Deferment.

Section
500.4064

Loan Indebtedness; Right to Compound Interest.

Section
500.4070

Insurance and Annuities on Same Life; Automatic Conversion of Deferred Annuity Into Paid-Up Annuity.

Section
500.4072

Standard Nonforfeiture Law for Individual Deferred Annuities.

Section
500.4073

Annuity Policy or Contract; Notice of Right to Cancel and Receive Refund; Effect of Returning Policy or Contract; Variable Annuity Contract; Exceptions.