NO SUICIDE AGREEMENT
House Bill 4764
Sponsor: Rep. Gerald Law
Committee: Insurance and Financial
Services
Complete to 9-24-99
A SUMMARY OF HOUSE BILL 4764 AS INTRODUCED 6-9-99
Public Act 386 of 1986 regulates viatical settlement contracts. Such a contract is a written agreement between the owner or holder of a life insurance policy who has a terminal illness or condition (a "viator") and a person or entity who "buys" the policy at a cost below the amount of the death benefit (a "provider"). House Bill 4764 would amend the act to prohibit a provider from offering to provide or from providing any payment to a viator conditioned on the viator's agreement to commit suicide.
MCL 550.524a
Analyst: C. Couch