Bill > HB4179

This bill modifies the Michigan Insurance Code by updating the gift limit that life insurance producers (previously called agents) can provide to insurance applicants or insureds. Specifically, the bill increases the allowed gift value from $5.00 to $50.00 per calendar year, removing previous language that restricted when this provision would take effect. The change allows life insurance companies and producers to give merchandise to potential or current policyholders with a cost up to $50.00 annually, without violating existing prohibitions on incentives in insurance transactions. This modification provides more flexibility for insurance professionals to offer modest promotional items or thank-you gifts to clients, potentially enhancing customer relations while maintaining reasonable restrictions on inducements in the insurance marketplace.

Budget and Finance, Business and Industry

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4179