Life was great until 1988. Then TAMRA became law and introduced a new life insurance tax status and modified endowment contracts. With the exception of a tax-free benefit (which is a benefit), a MEC life insurance contract was taxed like an annuity. But the insurance industry developed a “work around,” and its use of non-modified endowment contracts for tax-advantaged income is more popular now than ever. Steve and consumer reporter Kassie Rohde introduce a Shakespearean inquiry, “to MEC or not to MEC; that, is the question.”
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Steve Savant is the host of the daily producer show, Let’s Get Down to Business, and the weekly consumer show, Steve Savant’s Money, the Name of the Game. Both shows are sponsored by Ash Brokerage. Steve is the #1 online author and videographer of insurance content. Steve has been cited on FO... More