Michigan Compiled Laws, Chapter 500. Insurance Code of 1956 § 500.4070

Sec. 4070. (1) Contracts may be issued in this state providing for both insurance and annuities on the same life, and sections 4008 to 4036  1 (standard provisions), 4042  2 (limitation of liability), 4046  3 (prohibited provisions), 4204 to 4238, 4242, and 4244  4 shall apply only to that part of the contracts providing for insurance.

(2) Except a contract subject to section 4060  5 (standard nonforfeiture law for life insurance) or section 4072  6 (standard nonforfeiture law for individual deferred annuities), every contract prescribed in subsection (1) providing for a deferred annuity on the life of the insured only, or a deferred annuity issued on a single life, unless paid for by a single premium, shall provide that in the event of the nonpayment of a premium after 3 full years of premiums have been paid, the annuity shall automatically become converted into a paid-up annuity for the proportion of the original annuity as the number of completed years of premiums paid bears to the total number of premiums required under the contract.