Section 500.2080 of the Michigan Insurance Code allows a life insurer to write a life insurance policy or annuity contract which is subject to an assignment of the proceeds of the insurance policy or annuity contract as payment for cemetery services or goods or funeral services or goods. The maximum amount of the cemetery or funeral assignment for a life insurance policy or annuity contract under this section shall be adjusted annually, from the original maximum of $5,000, in accordance with the consumer price index.

The cemetery/funeral assignment maximum effective

June 1, 2009 through May 31, 2010 is $9,450

The maximum assignment levels for recent years are:

June 1, 2008 through May 31, 2009 ---- $9,238
June 1, 2007 through May 31, 2008 ---- $9,072
June 1, 2006 through May 31, 2007 ---- $8,808
June 1, 2005 through May 31, 2006 ---- $8,560
June 1, 2004 through May 31, 2005 ---- $8,423
June 1, 2003 through May 31, 2004 ---- $8,257
June 1, 2002 through May 31, 2003 ---- $8,050
June 1, 2001 through May 31, 2002 ---- $7,837

If you have questions about this policy benefit or its maximum amount, please contact the Rates and Forms Division toll free at (877) 999-6442.