Limited-pay whole life insurance policy

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Reference no: EM131020254

If a limited-pay whole life insurance policy is determined to be a “MEC” (Modified Endowment Contract): Select one: a. cash value increases cease immediately b. distributions, including policy loans, will likely be includable in income c. death benefits are paid only if cancer is the cause of death d. the policy will be administered by the state insurance commissioner

Reference no: EM131020254

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Limited-pay whole life insurance policy : If a limited-pay whole life insurance policy is determined to be a “MEC” (Modified Endowment Contract): Select one: a. cash value increases cease immediately b. distributions, including policy loans, will likely be includable in income c. death benef..

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