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 The language has been updated to replace outdated terms and ensure that all individuals, regardless of their racial background, are treated equally in the insurance process. Insurers are explicitly forbidden from charging different premiums or requiring different conditions based on an individual's race or color, and any such stipulations included in policies are deemed void.

Additionally, the bill increases the penalties for insurers who violate these provisions. Instead of a flat forfeiture of $500, violators will now face a civil fine of $1,000 for each violation, which can be pursued by the attorney general. The bill also clarifies that officers or agents of the insurer who violate these provisions will be guilty of a misdemeanor, punishable by up to one year in jail and fines ranging from $500 to $1,000. This legislative change aims to strengthen protections against racial discrimination in life insurance practices in Michigan.

Statutes affected:
House Introduced Bill: 500.2082