MI HB4580

Prohibits insurance producers from using senior-specific certifications or professional designations that mislead consumers about having special training in advising or servicing seniors regarding life insurance or annuity products.

Specifically bans use of unearned certifications, nonexistent or self-conferred designations, and certifications implying qualifications the producer does not actually possess.

Prohibits use of certifications from organizations that primarily teach sales or marketing, lack competency standards, lack disciplinary procedures, or lack continuing education requirements.

Establishes rebuttable presumption that certifications are acceptable if accredited by American National Standards Institute, National Commission for Certifying Agencies, or U.S. Department of Education-recognized accreditors.

Exempts job titles within state or federally licensed financial services organizations from prohibition if the title indicates seniority or area of specialization without misleading consumers.