Michigan § 500.4028 - Default in premium payments; reinstatement; provision required.
Full text of Michigan Michigan Compiled Laws § 500.4028 — Default in premium payments; reinstatement; provision required., with citation guidance and answers to common questions.
§ 500.4028. Default in premium payments; reinstatement; provision required.
There shall be a provision that if, in event of default in premium payments, the value of the policy shall be applied to the purchase of other insurance, and if such insurance shall be in force and the original policy shall not have been surrendered to the company and canceled, the policy may be reinstated within 3 years from such default, upon evidence of insurability satisfactory to the company and payment of arrears of premiums with interest.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.4028
What does Michigan Compiled Laws § 500.4028 cover?
Section 500.4028 ("Default in premium payments; reinstatement; 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 § 500.4028?
A common citation format is "Michigan Compiled Laws § 500.4028" (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 § 500.4028 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.