Sec. 4012. Each life insurance policy shall contain the following provisions: (a) A grace period of 1 month for the payment of every premium after the first year, which may be subject to an interest charge, during which month the insurance shall continue in force and which provision may contain a stipulation that if the insured dies during the month of the grace period, the overdue premium will be deducted in any settlement under the policy. (b) That written notice shall be sent by the insurer to the policyowner's last known address at least 30 days prior to termination of coverage. This subdivision does not apply to an insurer that collects a majority of its annual premium in person.
Mich. Comp. Laws § 500.4012
Life insurance policy; provision required
Applied in 3 court decisions — leading case 876 F. Supp. 2d 946 - Haviland v. Metropolitan Life Insurance (2012)
Most recently applied in Claire Kay v. United of Omaha Life Ins. Co. (September 2017)
1956, Act 218, Eff
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.