Modified Endowment Contracts | Life Insurance Quotes - Compare, Buy Life Insurance Online

The Material Change Rule in Modified Endowment Contracts (MEC)

The Material Change Rule in Modified Endowment Contracts (MEC)

October 11, 2022 by STEPHAN R. LEIMBERG & KEITH A. BLOCK, J.D., LLM, CLU, FLMI

Policies entered into prior to June 21, 1988, and policies entered into on or after that date with low enough … Read more

Benefit Reductions Within the First 7 Years of a Modified Endowment Contracts

Benefit Reductions Within the First 7 Years of a Modified Endowment Contracts (MEC)

October 11, 2022 by STEPHAN R. LEIMBERG & KEITH A. BLOCK, J.D., LLM, CLU, FLMI

For Single Insured For contracts insuring a single insured, if death benefits are reduced within the seven-year testing period, there … Read more

The Definition of a Modified Endowment Contracts

The Definition of a Modified Endowment Contracts (MEC)

October 11, 2022 by STEPHAN R. LEIMBERG & KEITH A. BLOCK, J.D., LLM, CLU, FLMI

A Modified Endowment Contract (MEC) is a life insurance contract that meets the requirements of Code section 7702, as well … Read more

Tax Treatment of Modified Endowment Contracts (MEC)

Tax Treatment of Modified Endowment Contracts

October 11, 2022 by STEPHAN R. LEIMBERG & KEITH A. BLOCK, J.D., LLM, CLU, FLMI

To counteract what was perceived as abusive use of single-premium, limited-pay, and universal The tax treatment of certain amounts received … Read more

What is a Modified Endowment Contract (MEC)?

What is a Modified Endowment Contract (MEC)?

October 11, 2022 by STEPHAN R. LEIMBERG & KEITH A. BLOCK, J.D., LLM, CLU, FLMI

To counteract what was perceived as abusive use of single-premium, limited-pay, and universal life policies as short-term, tax-sheltered cash accumulation … Read more

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