Modified Endowment Contracts and the 7-Pay Test

July 1, 2019 - SunCor Financial - MPI

Updates to the company

Modified Endowment Contracts and the 7-Pay Test

Source: ThinkAdvisorBy William R. Buslee, Charles R. McGrew  | May 01, 2017 at 06:50 AM The rules can lead well-meaning clients without good advisors into tax-rule maze. The term modified endowment contract, or MEC, has been around for almost 30 years, yet it continues to confuse and “mystify” policy owners and agents alike. Since qualification as a MEC

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