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Episode #98 MEC Explained: How to Keep Your Policy Tax-Advantaged
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What is a MEC, and why does it matter so much in Infinite Banking? In this episode, I break down the history of the Modified Endowment Contract, why Congress created it in 1988, how the 7-pay test works, and what happens if a policy is funded too aggressively too fast.
The big issue is simple: a MEC doesn’t ruin your policy, but it does change how you can access your cash value. That means taxes and penalties can show up before age 59½…
The skinny
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