Short answer: Michigan non-group life policies must give at least 10 days after you receive the policy to cancel for a prompt refund. MCL 500.4012 requires a one-month grace period for premiums after the first year and, for most insurers, written notice at least 30 days before coverage terminates.
This guide is general consumer information for Michigan life insurance buyers. It isn't legal advice or a coverage determination. Policy wording, underwriting and the statutes linked below control.
Free-look
MCL 500.4015 requires a non-group life policy to carry a front-page notice that for not less than 10 days after you receive it, you may cancel and get a prompt refund of any premium, including policy fees and charges, by returning it with a written cancellation request. A returned policy is void from the beginning.
Grace period and termination notice
MCL 500.4012 requires:
- A one-month grace period for every premium after the first year, during which the insurance continues (interest may apply, and the overdue premium can be deducted if the insured dies during grace)
- Written notice to the policyowner's last known address at least 30 days before coverage terminates, unless the insurer collects most of its annual premium in person
Keep your address current with the insurer so that notice reaches you.
Insurer financial strength
To ask about an insurer's financial strength or solvency under Michigan regulation, contact the Michigan Department of Insurance and Financial Services.
Questions? Contact Alishahi Insurance or call (877) 711-4545. See insurance in Michigan.
Frequently asked questions
How long is Michigan's life insurance free-look?
At least 10 days after you receive a non-group policy, under MCL 500.4015.
Does a Michigan insurer have to warn me before my life policy terminates?
Yes. MCL 500.4012 requires written notice at least 30 days before termination, except for insurers that collect most premiums in person.
Alishahi Insurance · 439 N Canon Dr, Penthouse, Beverly Hills, CA 90210 · (877) 711-4545 · CA License #4348151. General information only. This isn't legal, tax or financial advice or a coverage determination. Coverage depends on policy language and underwriting, and rules vary by state.