Archive for the ‘L54) MEC Modified Endowment Cont’ Category

L54) Life Insurance vs. Modified Endowment Contracts

1.3 – Life Insurance vs. Modified Endowment Contracts Current tax law specifies that a life insurance policy is one that passes the 7-pay test. This test requires that the premiums paid during the policy’s first seven years cannot exceed the sum of the net level premiums necessary to fund a fully paid-up policy at the […]

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January 15, 2016 · Jennifer · No Comments
Posted in: L54) MEC Modified Endowment Cont