Michigan Compiled Laws
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. - Sec. 4000. (1) This chapter applies to life insurance policies,...

Section 500.4001 - Universal Life Insurance; Definitions. - Sec. 4001. As used in this chapter, the following definitions...

Section 500.4004 - Entire Contract. - Sec. 4004. Every policy of life insurance hereafter issued or...

Section 500.4008 - Life Insurance; Provisions Required; Single Premium Policies. - Sec. 4008. (1) No policy of life insurance shall be...

Section 500.4010 - Premiums; Payment; Provision Required. - Sec. 4010. There shall be a provision that all premiums...

Section 500.4012 - Life Insurance Policy; Provision Required. - Sec. 4012. Each life insurance policy shall contain the following...

Section 500.4014 - Entire Contract; Incontestability; Exceptions. - Sec. 4014. There shall be a provision that the policy,...

Section 500.4015 - Policy of Life Insurance; Mandatory Notice as to Cancellation of Policy and Refund of Premium. - Sec. 4015. A policy of life insurance, other than group...

Section 500.4016 - Statements Considered Representations; Provision Required; Electronic Application; Endorsement. - Sec. 4016. (1) Each life insurance policy shall contain a...

Section 500.4018 - Misstatement of Age or Sex; Provisions Required. - Sec. 4018. Each life insurance policy shall contain a provision...

Section 500.4020 - Participation in Surplus; Provision Required. - Sec. 4020. There shall be a provision that the policy...

Section 500.4022 - Policy Loans Generally. - Sec. 4022. There shall be a provision that after 3...

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. - Sec. 4023. (1) As used in this section: (a) "Policyholder"...

Section 500.4024 - Nonforfeiture Benefits; Cash Surrender Values; Provision Required. - Sec. 4024. Each life insurance policy shall contain a provision...

Section 500.4026 - Table of Loan Values and Options; Provision Required. - Sec. 4026. Except for universal life insurance policies, each life...

Section 500.4028 - Default in Premium Payments; Reinstatement; Provision Required. - Sec. 4028. There shall be a provision that if, in...

Section 500.4030 - Settlement of Claim Upon Death of Insured; Provision Required. - Sec. 4030. There shall be a provision that when a...

Section 500.4032 - Table of Installments; Provision Required. - Sec. 4032. There shall be a table showing the amounts...

Section 500.4036 - Title Required. - Sec. 4036. There shall be a title on the face...

Section 500.4037 - Universal Life Insurance Policy; Provisions Required. - Sec. 4037. Each universal life insurance policy shall contain all...

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. - Sec. 4038. (1) As used in this section, "policy cost...

Section 500.4040 - Safeguard Against Lapse; Special Surrender Value; Optional Provisions; Supplemental Contract. - Sec. 4040. (1) Any life insurer may include in its...

Section 500.4042 - Liability Limitation; Aviation, Military or Naval Service. - Sec. 4042. Nothing contained in this chapter shall be construed...

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. - Sec. 4046. No policy of life insurance other than industrial...

Section 500.4047 - Profit Sharing, Charter or Founders and Coupon Policies; Definitions; Prohibitions, Violations. - Sec. 4047. (1) As used in this section, "profit sharing...

Section 500.4048 - Provisions Required by Laws of Other States or Counties. - Sec. 4048. The policies of a foreign or alien life...

Section 500.4052 - Preliminary Term Insurance on Old Policies; Reserve. - Sec. 4052. Policies may be issued in this state providing...

Section 500.4054 - Proceeds of Policy; Exemption From Creditors. - Sec. 4054. (1) Any authorized life insurer shall have power...

Section 500.4058 - Nonforfeiture Benefits on Old Policies. - Sec. 4058. This section shall apply only to policies of...

Section 500.4060 - Standard Nonforfeiture Law for Life Insurance. - Sec. 4060. (1) This section shall be known as the...

Section 500.4061 - Flexible Premium Universal Life Insurance Policies; Provisions Applicable to Minimum Cash Surrender Values; Minimum Paid-Up Nonforfeiture Benefits. - Sec. 4061. (1) All of the following apply to the...

Section 500.4062 - Loan Value; Deferment. - Sec. 4062. (1) In the case of policies issued prior...

Section 500.4064 - Loan Indebtedness; Right to Compound Interest. - Sec. 4064. In ascertaining the indebtedness due upon any loan...

Section 500.4070 - Insurance and Annuities on Same Life; Automatic Conversion of Deferred Annuity Into Paid-Up Annuity. - Sec. 4070. (1) Contracts may be issued in this state...

Section 500.4072 - Standard Nonforfeiture Law for Individual Deferred Annuities. - ***** 500.4072 THIS SECTION IS AMENDED EFFECTIVE 91 DAYS AFTER...

Section 500.4072.amended - Standard Nonforfeiture Law for Individual Deferred Annuities. - ***** 500.4072.amended THIS AMENDED SECTION IS EFFECTIVE 91 DAYS AFTER...

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. - Sec. 4073. (1) Subject to subsection (2), an annuity contract...