Infinite Banking Concept and a Modified Endowment Contract MEC

A good life insurance policy can become a Modified Endowment Contract when it fails the 7 pay test. What does that mean in plain terms? We explain in this episode.

Learn what a MEC is (modified endowment contract)
What if my Infinite Banking Policy becomes a MEC?
Is a MEC bad?
Can a MEC be good?
How to avoid a MEC Why did the rules for life insurance change in 1988?
What is the 7 pay test for life insurance?
Learn the history of the MEC laws passing congress Podcast

Episode 560: https://www.youtube.com/watch?v=y7JoQ5OA92U

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