Taxable income may be the result from all of these modified endowment contract (MEC) transactions EXCEPT for

Insurance

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Taxable income may be the result from all of these modified endowment contract (MEC) transactions EXCEPT for

A. A cash value loan is taken out

B. Automatic premium loan provision is utilized

C. The policy is surrendered for less than what was paid into it

D. Dividend is issued

Answer: C. The policy is surrendered for less than what was paid into it

The above question Taxable income may be the result from all of these modified endowment contract (MEC) transactions EXCEPT for, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.