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MI HB5640
Bill
Status
6/10/2014
Primary Sponsor
Fred Durhal
Click for details
AI Summary
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Prohibits insurers from requiring fixed annuity contract holders to complete surveys as a condition of payment, including surveys about the holder's financial situation or reasons for seeking payment.
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Prevents insurers from asking contract holders questions that would delay or prevent payment to which they are entitled, except as otherwise provided in law.
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Defines "contract holder" as the holder of a fixed annuity contract.
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Defines "fixed annuity contract" as a deferred annuity contract with an account value credited with interest at a guaranteed rate.
Legislative Description
Insurance; unfair trade practices; insurers requiring fixed annuity contract holders to complete surveys as a condition for payment; prohibit. Amends 1956 PA 218 (MCL 500.100 - 500.8302) by adding sec. 2006a.
Insurance, unfair trade practices
Last Action
Printed Bill Filed 06/11/2014
6/11/2014