Tribute to Life Insurance Awareness Month: MEC and non-MEC life insurance Blog added by Steve Savant on September 26, 2013
Steve Savant

Steve Savant

Scottsdale , AZ

Joined: January 28, 2005

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.”

The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Post Blog