Michigan Life Insurance [2024]

Michigan life insurance offers residents a free look period, 30-day grace period, and a timely payment of the death benefit within 60 days. Get affordable MI life insurance quotes to protect your loved ones.

UPDATED: Sep 19, 2024Fact Checked

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Written by:

Ty Stewart

Licensed Life Insurance Agent

Ty Stewart is the founder and CEO of SimpleLifeInsure.com. He started researching and studying about life insurance when he got his first policy for his own family. He has been featured as a life insurance expert speaker at agent conventions and in top publications. As an independent licensed life insurance agent, he has helped clients nationwide to secure affordable coverage while making the...

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Written by Ty Stewart

Licensed Life Insurance Agent

Reviewed by:

Michelle Robbins

Licensed Insurance Agent

Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...

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Reviewed by Michelle Robbins

Licensed Insurance Agent

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UPDATED: Sep 19, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

UPDATED: Sep 19, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

A Guide to Michigan Life Insurance Company Quotes

There are several A-rated life insurance companies in Michigan. Life insurance is very similar from state to state, with a few exceptions. This guide should help you understand the differences and find resources in your state.

Read More: The Cost of Life Insurance

Policy Cost – The premium (cost) you pay for your life insurance policy does not vary by state. It is the same regardless of which state you live in. Premiums are set by life insurance companies and then approved by the State Insurance Department.

Company Availability – Not all companies are available in every state. For example, if a life insurance company has not filed its product or rates with your State Insurance Department, that company won’t be available in your state. Company availability changes often due to new filings.

Product Availability – There are instances where life insurance companies offer only specific products or riders in a state. For example, a company may offer a child insurance rider on their policy, but the feature may not be available in all states. These exclusions can be viewed by clicking on the life insurance companies in the list below.

Michigan life insurance also offers residents a free look period, 30-day grace period, and a timely death benefit payment within 60 days.

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Life Insurance Rates in Michigan

You may be wondering what to expect with Michigan life insurance rates. In the chart below, you’ll find what the best life insurance companies in Michigan charge based on age, marital status, and gender for non-smokers. However, your rates may be different, especially if you smoke.

You can also see how many life insurance companies there are in Michigan versus the other midwestern states.

According to the chart, 21 Michigan life insurance companies specifically do business within the state. So, chances are, those 21 companies will offer the best life insurance in Michigan. That also means more Michigan life insurance policy options for you.

Check out our free quote tool on this page to find out exactly what your MI life insurance quotes will be.

Michigan Guaranty Association

State guaranty associations are committed to protecting resident policyholders and beneficiaries in the event of an insurance company insolvency. The association comprises all insurance companies licensed to sell life insurance, health insurance, and annuities in the state. If an insurance company becomes insolvent (goes out of business), the association steps in to protect policyholders by continuing coverage and paying claims up to defined limits.

In Michigan, a life insurance policy is protected up to $300,000. This amount is the maximum benefit provided for any one life. In other words, multiple policies on any one person are limited to this amount.

Michigan Life Insurance Contacts

Here is a list of all the necessary state contacts for residents with Michigan life insurance claims and other related matters.

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Guaranty Association

If you need information about the Michigan life insurance guaranty or Michigan health insurance guaranty, contact the Michigan Life & Health Insurance Guaranty Association or call them at 1-517-339-1755.

Insurance Department

For the latest updates from the Michigan Department of Insurance and Financial Services, you can call 1-877-999-6442.

At the Michigan Department of Insurance, you’ll be able to find any Michigan life insurance license for any practicing agent or entity selling life insurance within the state, along with access to the State of Michigan life insurance lookup and Michigan life insurance policy lookup.

You can also obtain information on any Michigan Life Insurance Company in Royal Oak, Michigan, or Southfield, Michigan. Here, you’ll also provide any available information on national providers, such as AAA Life Insurance.