HB 4179
Insurance: life; gift limit for life insurance producers; modify. Amends sec. 2024a of 1956 PA 218 (MCL 500.2024a).
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies a Michigan law regarding gifts offered by life insurance producers. It clarifies that life insurance companies and their agents can provide applicants or existing policyholders with merchandise valued at $50.00 or less per year without violating insurance regulations. The change removes a previous restriction that limited these gifts to $5.00. This update aims to provide more flexibility for life insurance agents to offer promotional items to clients.
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Primary sponsor
Joseph Aragona
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