MEC – Modified Endowment Contract. What does that mean?

If your life insurance policy is in MEC status: * You may be subject to additional taxes and penalties on any distributions from your policy during the life of the insured. * Policy distributions, such as loans, withdrawals, surrenders, cash dividends, and dividends retained by the insurer as principal or interest on a loan under […]

May 28, 2013 · Jennifer · No Comments
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