Maximum Amount of Cemetery or Funeral Predeath Assignment Under the Michigan Insurance Code ________________________________________

STATE OF MICHIGAN DEPARTMENT OF INSURANCE AND FINANCIAL SERVICES Bulletin 2026-10-INS In the matter of: Maximum Amount of Cemetery or Funeral Predeath Assignment Under the Michigan Insurance Code ________________________________________/ Issued and entered this 5th day of March 2026 by Anita G. Fox Director This bulletin supersedes Bulletin 2025-01-INS, dated February 25, 2025. Section 2080 of the Insurance Code, MCL 500.2080, allows a life insurer to write a life insurance policy or an annuity contract which is subject to a predeath assignment of the proceeds of the insurance policy or annuity contract as payment for cemetery or funeral services or goods if all the conditions and criteria in section 2080(6), MCL 500.2080(6), are met. Under Section 2080(6)(g), MCL 500.2080(6)(g), the maximum death benefit of an associated life insurance policy or annuity contract which is subject to the assignment is $12,720 when the first premium payment is made; and in case of a non-associated life insurance policy or annuity contract, the maximum initial amount of proceeds assigned shall not exceed $12,720. The statute requires annual adjustment of both amounts in accordance with the consumer price index. Accordingly, the new cemetery or funeral maximum assignment value, effective June 1, 2026, through May 31, 2027, is $14,100. The maximum assignment values for recent years are as follows: June 1, 2025 through May 31, 2026 ---- $13,870 June 1, 2024 through May 31, 2025 ---- $13,460 June 1, 2023 through May 31, 2024 ---- $12,720 June 1, 2022 through May 31, 2023 ---- $11,760 Any questions regarding this bulletin should be directed to: Department of Insurance and Financial Services Office of General Counsel 530 West Allegan Street, 7th Floor Lansing, Michigan 48933 Toll Free: (877) 999-6442 /s/ _________________________________________ Anita G. Fox Director