{"data":{"id":"us-mi/mich.-comp.-laws-550.605","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 550.605","heading":"Credit life insurance; amount.","body":"Sec. 5.\n\nThe amount of credit life insurance shall not exceed the indebtedness. Where indebtedness repayable in substantially equal installments is secured by an individual policy of credit life insurance the amount of insurance shall not exceed the approximate unpaid indebtedness on the date of death and, where secured by a group policy of credit life insurance shall not exceed the exact amount of unpaid indebtedness on such date.","path":["MI Code","Chapter 550","Act Act-173-of-1958"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-550-605","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"44cc47b1e50abb66e531edf665cefd831c1bbaae879e8527b465b2209f1a0fd4","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-550.604","next":"us-mi/mich.-comp.-laws-550.606"},"notice":"GroundRules: Original legal text. Not legal advice."}