Which type of policy is considered to be overfunded, as stated by IRS guidelines?A. Modified Whole LifeB. Modified Endowment ContractC. Variable Universal LifeD. Interest-Sensit…

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asked Apr 7, 2024 115k views

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Andy Fowler · Answer 1 · 2024-04-10T10:34:19+0000

Answer: The correct answer is "Modified Endowment Contract". A policy that is overfunded to where it does not meet the 7-pay test is considered a Modified Endowment Contract.

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Which type of policy is considered to be overfunded, as stated by IRS guidelines?A. Modified Whole LifeB. Modified Endowment ContractC. Variable Universal LifeD. Interest-Sensit…

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