This bill amends the Michigan Insurance Code of 1956 by introducing new provisions regarding health insurance policies and long-term care coverage. A significant addition is Section 3406rr, which prohibits insurers from denying or limiting coverage for individuals who intend to end their lives in accordance with the Death with Dignity Act. Additionally, the bill modifies existing language in Sections 3905 and 4037, changing the word "shall" to "must" in several instances to strengthen the requirements for long-term care coverage and universal life insurance policies.

The amendments to Section 3905 clarify that long-term care coverage must include specific provisions regarding the types of care covered and the conditions under which coverage can be limited. Notably, the bill specifies that suicide does not include actions taken in accordance with the Death with Dignity Act, ensuring that individuals who choose this option are not penalized in terms of their insurance coverage. Furthermore, Section 4037 outlines the necessary disclosures that must be provided to policyholders regarding their universal life insurance policies, including annual reports and guarantees of minimum interest credits. The bill is set to take effect 90 days after being enacted into law, contingent upon the passage of related legislation.

Statutes affected:
House Introduced Bill: 500.3905, 500.4037