Need Michigan Life Insurance Quotes?

Purchasing life insurance in Michigan is an important matter and as such, it deserves significant thought and consideration. Several factors may affect your decision regarding the type and amount of life insurance that you choose to purchase. Regulations regarding life insurance vary from one state to the next. Be sure to consider the following facts, when considering the purchase of Michigan life insurance.

Insolvency coverage is limited to $300,000 in life insurance death benefits but not more than $100,000 in net cash values in the event that your insurance provider is unable to fulfill your policy.

In terms of debt collection regarding assets, life insurance proceeds or annuity proceeds payable to beneficiaries other than insured are exempt from creditors if there is a clause that prohibits the proceeds from being used to pay the beneficiary's creditors.

The Michigan estate tax is designed to absorb the federal estate tax credit for state death taxes. No additional estate tax is imposed.

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