The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

MODIFIED ENDOWMENT CONTRACT Definition & Legal Meaning

Definition & Citations:

The post-endowment-period paid amount exceeds the policy’s face value. This contract type is taxable and subject to any post-tax penalties. Either the face value or the cash value, whichever is greater, is the amount payable in the case of death.

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