Michigan § 500.4012 - Life insurance policy; provision required.
Full text of Michigan Michigan Compiled Laws § 500.4012 — Life insurance policy; provision required., with citation guidance and answers to common questions.
§ 500.4012. Life insurance policy; provision required.
Each life insurance policy shall contain the following provisions:
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.
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.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.4012
What does Michigan Compiled Laws § 500.4012 cover?
Section 500.4012 ("Life insurance policy; provision required.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 500.4012?
A common citation format is "Michigan Compiled Laws § 500.4012" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 500.4012 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.