MLchartDataset catalogue

Guideline premium

Term · Insurance and risk management · MLC-T-INS-001702

A limit on the amount of premium that can be paid into a flexible premium life insurance policy, such as universal life, without causing the policy to be reclassified as a modified endowment contract (MEC) for tax purposes. Exceeding this limit can result in less favorable tax treatment of withdrawals and loans. It is calculated based on IRS regulations.

Table 1. Record
IdentifierMLC-T-INS-001702
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001702",
  "term": "Guideline premium",
  "field": "Insurance and risk management",
  "definition": "A limit on the amount of premium that can be paid into a flexible premium life insurance policy, such as universal life, without causing the policy to be reclassified as a modified endowment contract (MEC) for tax purposes. Exceeding this limit can result in less favorable tax treatment of withdrawals and loans. It is calculated based on IRS regulations.",
  "url": "https://mlchart.com/terminology/insurance/guideline-premium/"
}

Record 1,623 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.