Across
- 5. The yearly date when policy values update.
- 6. The action in which the policy no longer provides coverage.
- 7. A policy’s dividends and cash value that is automatically used pay the premium instead of the policyowner paying out of pocket.
- 9. NFO option that maintains the original death benefit for as long as the cash value can support the policy.
- 10. How are withdrawals and loans from a MEC taxed?
Down
- 1. NFO option that is initiated when the premium goes unpaid beyond the grace period and utilizes policy’s cash value to cover the premium.
- 2. delaying a payout or action to a later date.
- 3. Which test determines whether a life insurance policy becomes a MEC?
- 4. NFO option that is a permanent life insurance option that converts the policy’s cash value into a smaller, fully paid-up policy with no further premiums required.
- 8. a life insurance policy that has exceeded federal premium limits.