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What policies are “grandfathered” from becoming Modified Endowment Contracts?

April 26, 2017grandfathered policies

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What policies are “grandfathered” from becoming Modified Endowment Contracts?

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Life insurance contracts entered into before June 21, 1988 are generally “grandfathered” from this premium limit test. However, certain changes made to the contract could invalidate the policy’s “grandfathered” status and subject it to premium limit testing.