The bill amends the Michigan Insurance Code of 1956, specifically section 2082, to prohibit life insurers from discriminating against individuals based on race or color in terms of premiums, rates, and policy conditions. The new language clarifies that life insurers must treat all individuals equally, regardless of their race or color, and cannot impose higher premiums or different conditions based on these characteristics. Additionally, any stipulations or conditions that bind the insured to accept less than the full value of a policy due to their race or color are deemed void.

Furthermore, the bill increases the penalties for insurers that violate these provisions. Instead of a forfeiture of $500 for violations, insurers will now face a civil fine of $1,000 for each violation, which can be recovered by the attorney general. The bill also establishes that officers or agents who violate these provisions will be guilty of a misdemeanor, punishable by a fine of up to $1,000 or imprisonment for up to one year, or both. This amendment aims to strengthen protections against discrimination in life insurance practices in Michigan.

Statutes affected:
House Introduced Bill: 500.2082