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2020 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 The Insurance Code of 1956 (500.100 - 500.8302)
218-1956-40 Chapter 40 Life Insurance Policies and Annuity Contract (Other Than Industrial or Group) (500.4000...500.4073)
- 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.
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