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Modified Endowment Contract (MEC) Explained. Tax Good Thing About Life Insurance Policies Contracts

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Modified Endowment Contract (MEC) Explained. Tax Good Thing About Life Insurance Policies Contracts A modified endowment agreement (commonly known as a MEC) is an income tax certification of a life insurance coverage that has been funded with increased cash than permitted under federal taxation rules. A life insurance coverage which becomes a MEC isn’t any […]