Michigan Viatical Settlement Guide 2026

Michigan has specific regulations for viatical settlements but does not separately regulate standard life settlements.

Michigan's Regulatory Framework

Viatical Settlements

Michigan's viatical settlement regulations protect terminally or chronically ill individuals who wish to sell their policies.

Standard Life Settlements

For seniors without qualifying medical conditions, Michigan does not have specific life settlement regulations.

Viatical Settlement Protections

For qualifying transactions:

• Provider licensing requirements
• Consumer disclosures

Privacy protections

Who Qualifies for a Viatical Settlement?

Terminally ill (life expectancy typically 24 months or less)

• Chronically ill
• Medical certification required

Standard Life Settlements in Michigan

Transactions are still possible through national providers, but fewer state-specific protections apply.

Tax Benefits

Viatical settlement proceeds may be tax-free under federal law for qualifying individuals.

This guide is for informational purposes only. Verify current regulations and consult professionals before making decisions.