Mich. Admin. Code R. 500.2032
Current through Vol. 24-21, December 1, 2024
Rule 2. For purposes of section 2027(a)(ii) of the code, with respect to the underwriting of credit life insurance, a reasonable relationship does not exist between any age up to and including age 70 and the extent of the risk or the coverage issued or to be issued. In transacting credit life insurance, insurers shall not refuse to insure, refuse to continue to insure, or limit the amount of insurance available to an individual because the person is age 70 or under. This prohibition shall not apply to any disability benefit in connection with credit life insurance coverage.
Mich. Admin. Code R. 500.2032