{"data":{"id":"us-mi/mich.-comp.-laws-500.711","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.711","heading":"Unearned premium reserves; treatment of premiums due and unpaid; discount of certain gross premiums paid in advance.","body":"Sec. 711.\n\nUnearned premium reserves are required for all health insurance policies and certificates with respect to the period of coverage for which premiums, other than premiums paid in advance, have been paid beyond the date of valuation.\n\nIf premiums due and unpaid are carried as an asset, such premiums shall be treated as premiums in force, subject to unearned premium reserve determination. The value of unpaid commissions, premium taxes, and the cost of collection associated with due and unpaid premiums shall be carried as an offsetting liability.\n\nThe gross premiums paid in advance for a period of coverage commencing after the next premium due date that follows the date of valuation may be appropriately discounted to the valuation date and shall be held either as a separate liability or as an addition to the unearned premium reserve that would otherwise be required as a minimum.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-711","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"4dc7fd9fb343f5f4e889f67b1705d1ab057ac7d0fc250c14a4e5c4f96edcdfa6","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.7090","next":"us-mi/mich.-comp.-laws-500.713"},"notice":"GroundRules: Original legal text. Not legal advice."}