Mich. Comp. Laws § 500.4026
Current through Public Act 156 of the 2024 Legislative Session
Except for universal life insurance policies, each life insurance policy shall contain a table showing in figures the loan values and the options available under the policies each year upon default in premium payments during at least the first 20 years of the policy. Universal life insurance policies shall clearly describe and illustrate calculations used to determine loan values and the options available under the policies upon default in premium payments.
MCL 500.4026