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Form a Business

Grace period; provision required.

MCL 500.4206
in effect
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500.4206. Grace period; provision required. Sec. 4206. There shall be a provision that the insured is entitled to a grace period of 4 weeks within which the payment of any premium after the first may be made, except that where premiums are payable monthly the period of grace shall be 1 month; and that during the period of grace the policy shall continue in full force, but if during such grace period the policy becomes a claim, then any overdue and unpaid premiums may be deducted from any amount payable under the policy in settlement. 1956, Act 218, Eff. Jan. 1, 1957 [PopularName] Act 218
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-500-4206Fetched: 10/20/2026

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