Michigan HB4179 raises the gift limit for life insurance producers from $5 to $50 per calendar year.
Michigan HB4179 amends the Michigan Compiled Laws to modify the gift limit for life insurance producers. The bill raises the allowable value of merchandise gifts from $5 to $50 per calendar year for each life insurance applicant or insured. This change applies to gifts given by life insurers or life insurance agents to individuals applying for or holding a life insurance policy.
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