Michigan Life Insurance: The Basics

Michigan life insurance regulations mostly concern claims issues. However having a basic understanding of these regulations is still a good idea.

Premiums can vary by as much as 50%. Visit Netquote, where you can fill out a short form, select a plan, and input your personal data for a true personalized quote in minutes. Click here to start.

Use Insurecom to compare additional term life and whole life quotes, and get expert advice from an agent in your area, who can help you design a plan that's right for you. Click here to fill out a quick form.

Michigan life insurance state regulations

Basic state regulations:

  • A one month grace period on late payments that all life insurance policies allow.
  • Prompt settlement of claims is guaranteed.
  • Inaccurate statements made on the policy or application can be grounds for policy cancellation.
  • Misstatement of age or sex the death benefits will be recalculated to reflect this fact.

Sidebar
To apply for a Michigan term life insurance policy, or if you just want a quick online quote, visit Netquote now.
If you are not sure about what type of life coverage you want, you can also try Insurecom. They will put you in touch with agents who can answer any questions that you might have.

The Michigan Life Insurance Association

This portection under this association only extends to the policies of insurers who are licensed in Michigan, so be sure yours is. To check, call the Michigan Insurance Division at (877) 999-6442 or (517) 373-0220.

Sidebar
Apply now for a quote at Netquote
(for Michigan term life insurance), or Insurecom.
All quotes are from licensed insurers in Michigan.

Additional MI life insurance information

To get the best price on your MI life insurance policy, start with our guide to term life insurance or sign-up for our free life insurance course (see below).

For more information on MI life insurance laws and regulations, contact the state's Consumer and Industry Services.

For more help . . .

Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process.

Our free life insurance course is designed to help you do just that.

Subscribe here: