What Does Modified Endowment Contract Mean?

Free Business Insurance Quote Click Here
What does Modified Endowment Contract mean? Read on to discover the definition & meaning of the term Modified Endowment Contract - to help you better understand the language used in insurance policies.

Modified Endowment Contract

Modified Endowment Contract

A (MEC) is a life insurance policy under which the amount a policyowner pays in during the first years exceeds the sum of net level premiums that would have been payable to provide paid-up future benefits in seven years.

We hope the you have a better understanding of the meaning of Modified Endowment Contract.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z


Free Business Insurance Quote Click Here