Sentences with phrase «as mecs»

All single - premium policies are now classified as MECs.

Almost all single premium policies will be treated as MECs.

My friend had input the store, known colloquially as MEC, into his BlackBerry, but the map app steered us wrong.

The redesigned logo refers to the retailer simply as MEC and does away with the iconic image of a mountain.

For those with a lot of extra cash to invest each year there is a limit to the amount you can pay into the policy (typically a percentage of the total policy value), this limit is known as the MEC (modified endowment contract) limit.

Practice Tip: There are some situations where a MEC may be desired and these pros and cons are reviewed in detail in our MEC article linked as MEC rules above.

Certain health benefits don't count as MEC, even though they may seem like traditional health insurance in some ways.

Whichever agent you work with needs to design your plan with the least amount of life insurance possible with the most money going in without becoming something known as a MEC.

In addition, certain withdrawals from a policy that is not classified as a MEC and that are made within the first 15 years after it is issued may be fully or partially taxable.

It is also important to note that if a non-MEC (pre June 1988) policy undergoes what the I.R.S. considers a material change, then it can also qualify as a MEC.

A Modified Endowment Contract (also referred to as a MEC) is a rapidly funded life insurance policy that offers a less favorable tax treatment than a traditionally funded policy.

Under these new laws, withdrawals, partial surrenders, loans, or assignments taken from the gains of a life insurance policy that qualifies as a MEC will be taxed as income and can be subject to IRS penalties.

Although all life insurance companies are constrained by legal limits such as the MEC rules, some offer more flexibility for options such as paid up additions riders or options for chronic illness or long - term care.

Practice Tip: There are some situations where a MEC may be desired and these pros and cons are reviewed in detail in our MEC article linked as MEC rules above.

Any premium paid into the policy in excess of this limit will result in reclassification of the policy as an MEC.

A decrease in the death benefit will not restart the test, but it may result in the policy being immediately classified as an MEC in some cases.

Once a policy has been classified as an MEC, it can not regain its former tax advantages under any circumstances.

Because having the policy classified as a MEC would have adverse tax consequences, policyowners and their advisers should take some care when this dividend option is selected to assure that premiums do not exceed the MEC levels.

Not exact matches

MEC bills itself as Canada's go - to place for outdoor gear, owned by those who shop there.

To guide Lululemon into the next phase of its development, the company has hired former MEC auditor Kerri McKenzie as its production manager, to develop a code of conduct as the company ramps up its operations overseas.

As «Christians around the world rejoice» at Abedini's release, Middle East Concern (MEC) reported that «Iranian Christians request our continuing prayer, asking that... other Christians detained in Iranian prisons will be encouraged and released soon.»

Ludo Lefebvre of Trois Mec, Alex Stupak of Empellón and Paul Qui (as the Austin rep) will throw a dinner on March 14.

Not only will viewers get a peek into his life as the business owner of LudoTruck — a mobile truck that brought fried chicken to the streets of Los Angeles — LudoBird, Trois Mec, Petit Trois, and Trois Familia, but they'll also find out the inspiration behind his use of unusual ingredients to create signature dishes.

for moms)-- How to get others to support you in breastfeeding Mec as Mom: Pre-Natal Pediatric Consultations Are Necessary Onbreastfeeding: Say it, claim it, get support!

-LSB-...] at Apples & Dumplings The Choice to be More Than a Woman at Mec as Mom [@delisyus and Facebook] Breastfeeding made me a better and stronger mom... and woman at Ethanmama: The Working Mom... Finding Balance [@ethanmama and Facebook] My Superpower at -LSB-...]

The fund management companies under investigation as listed by SEC are as follows: MEC - Ellis Investment Ghana Ltd..

The key to achieve this is what is known as microbial electrolysis cells (MEC).

As well, $ 100 to MEC, our favourite paleo protein ($ 90 Value), and a $ 50 Gift Card to Noggins Corner Farm Market.

After training and testing, they become certified VA medical examiners that can perform medical examinations of commercial motor vehicle (CMV) operators who are military veterans, and issue Medical Examiner's Certificates (MECs) to those same operators as required by the Fixing America's Surface Transportation (FAST) Act.

After training and testing they become certified VA medical examiners that can perform medical examinations of commercial motor vehicle (CMV) operators who are military veterans, and issue Medical Examiner's Certificates (MECs) to those same operators as required by the Fixing America's Surface Transportation Act (FAST Act), Public Law 114 - 94, div.

If your policy becomes a MEC, this advantage (FIFO) goes away and the policy is treated like a typical retirement vehicle, such as a non qualified annuity.

I have a MEC account for over 10 years but, when the account was classfied as «MEC», the insurance company did not give me an alert.

I bought a whole life policy over 20 years ago, the policy converted to MEC status, the insurance agent advertised the product as a tax - deferred saving product with a life insurance component.Could you provide me with any advice on how I can have the MEC status reversed?

And finally, policy loans from the cash value are treated as ordinary income, so MEC loans may be subject to income tax as well.

Finally, a couple more benefits of a MEC are that the death benefit on life insurance is tax free and the death benefit can be accelerated due to chronic illness, as a possible alternative or addition to long term care insurance.

In addition, the MEC withdrawals for those that are under 59.5 years of age, are subject to a 10 % penalty, just like other distributions from retirement vehicles such as an IRA, 401 (k) or a Qualified Annuity contract.

The second instance is when a policy incurs a material change, such as a reduction to the death benefit, which may or may not cause the policy to MEC.

Since an MEC can not be reversed, you need to understand that you are losing the tax advantages associated with a life insurance policy and that you will be left with, essentially, a life insurance policy that functions more as a non-qualified retirement account than a life insurance contract.

Loans taken will be free of current income tax as long as the policy remains in effect until the insured's death, does not lapse, and is not a MEC.

6 If a life insurance policy is classified as a modified endowment contract (MEC), there may be adverse tax consequences.

The pro of whole life is that the higher price tag can be mitigated by getting this type of life insurance policy at a young age, adding specific riders that maximize the cash value up to, but not crossing the line, of becoming a modified endowment contract MEC, and allowing you to utilize that cash value in as little as 30 days.

Instead, there is a limit to how much cash you can put into your policy at a given time so as to avoid creating a modified endowment contract or MEC.

There may be adverse tax implications for policies classified as a modified endowment contract (MEC) or if the amount of your loans exceeds the cost basis of the policy.

If your policy is considered a Modified Endowment Contract (MEC), any loan you take will be taxable as ordinary income to the extent of the gain in the policy.

Whether you are fighting together as a team against AI Zeds or fighting against each other as players play as Zeds and Mecs.

And as you venture further along the storyline, they only get more intense, from the face - eating Seekers (who stealth, by the way), to the new Mechtoid which is a Sectoid in a MEC suit (and hates you with a passion).

«The emissions associated with powering and heating our buildings comprises a large slice of MEC's overall footprint — a slice that is now smaller as we extend our renewable energy partnership with Bullfrog Power to cover all our facilities.»

The vulnerability of the New York City metropolitan region to SLR was examined as part of the Metropolitan East Coast (MEC) Report for the National Assessment of Potential Consequences of Climate Variability and Change for the United States.

The combined New York City / MEC region's role as a megacity is closely linked to its highly developed infrastructure, particularly an efficient and reliable public transportation system.

As part of the push for the ALEC fracking bill passed in Colorado, Bo Heath arranged for Colorado ex-governor Bill Ritter to fly down to North Carolina to meet with George Howard and the MEC.