What is an MEC in life insurance?

Answer A Modified Endowment Contract (MEC) is a life insurance policy with a premium schedule that results in a paid-up policy before the end of the seven-year pay test period.HistoryCongress passed legis... Read More »

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What is the difference in whole life insurance&term life insurance?

Life insurance pays a defined benefit amount when the policyholder dies. Term life insurance pays if the death occurs during the term of the policy--a predetermined number of years. Whole life insu... Read More »

What is term life insurance and whole life insurance?

Term life and whole life insurance are two types of policies that provide a financial benefit when the insured passes away. Both life insurance policies have advantages in costs and protection that... Read More »

How do I pay my life insurance premiums on line for Globe Life and Accident Insurance Co.?'s the website.

What Types of Changes in My Life Can Affect My Life Insurance?

Life insurance is a policy purchased by an individual from an insurer over a specified amount of time. Based off the terms of the policy, the insurer agrees to pay the designated beneficiary a lump... Read More »