Question: A Modified Endowment Contract ( MEC ) is best described as A . A life insurance contract where all withdrawals prior to age 6 5

A Modified Endowment Contract (MEC) is best described as
A. A life insurance contract where all withdrawals prior to age 65 are subject to a 10% penalty
B. A modified life contract which enjoys all the tax advantages of whole life insurance
C. A life insurance contract which accumulates cash values higher than the IRS will allow
D. An annuity contract which was converted from a life insurance contract
A Modified Endowment Contract ( MEC ) is best

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