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@jeshurun1111 Since Aug of 88 any true single premium product is a MEC. But OP simply said one time premium, leaving open whether or not future premiums were possible or planned. It is some of the commentors that jumped to that conclusion. But a Q. Do you know who the most successful and...

@qity Let me give you a scenario when you would solve for the DB that would make a large initial premium not create a MEC. Say you have a wealthy family as clients. Their No 1 son completes medical school and surgical residency but decides to spend some years working for Doctor's W/O Borders...

@qity Of course you can. Now it may end up taking more than one premium

@qity Unless the db was a solve for minimum non mec db you are likely correct

@devonboy Claims are interesting. First they are paid direct to the listed beneficiary if any, not to the estate. So they bypass any probate process. The life insurance company will not pay one bene without paying all benes at the same time. So if there was a policy and it paid the sole...

@markster7 If you get a competent agent with a large producing group with multiple carrier options, his BGA underwriting help can poll different companies build tables to see who might be best given your build problem. On the THC, simply quit taking them for at least a month prior to your medical.

@sydneysteve If the policy is still in force and has not lapsed your loan should not be a taxable event unless the $50k initial premium made the policy a MEC. If that is the case than you destroyed the tax advantages of life insurance from the get go.

@fendertele52 So your company knows exactly how to get in touch with the millions of beneficiaries that long ago were named in the original application and now have moved, married, divorced, married again and moved 12 times since that application? I am calling BS on that being the case.

@muabannhadat678 I would suggest that you contact a trust attorney in your area to discuss this. In my experience, I would expect that you would be the most likely trustee for your daughter and his son's mother or father (is that the new wife?) would be the most likely trustee for his portion...

@homesteader They have a process they need to follow. But I would simply download a claim form from their website and submit it. If you are the bene you will get a check. If you are not you won't.

@exoduskamman I was not active in the insurance as a pension market but did occasionally see an opportunity with a client. That client situation was typically a high earner (over $250,000/year taxable income) without access to tax deferred retirement accounts or if they had access, they were...

@exoduskamman A counter argument: Let's assume he has a number of employees in his business so he is limited in retirement choices. A 401k works, but costs him fee costs for his employees yet he is the highly compensated one so is severely limited in what he can contribute. Any other DB or...

@oscaroscar Could this be an OTC swap of Musk's Tesla shares for VOO? Vanguard has to acquire Tesla stock. Something about this kind of tax free swap tickles my memory. It has to be an entity created and it takes shares of a single stock and gives out shares of itself to that stock holder...

@remnant502 You would want 30 days to make sure all nicotine is out of the blood.

@remnant502 I would recommend hubby wait another 2-3 weeks before he schedules his physical.

@worriedmom1968 So long as it is truly a non recourse loan or any recourse is limited to the policy cash value and your employer, why not try it. As others have said, I am not a fan of premium financing but I have been retired 10 years and am not familar with the current programs. I do play...

@juicemex07 The beauty of the 403B is that the limits are much higher than the 401k. So if you get in a situation in the future where you are able to defer a great % of your salary it would be a big help for a large annual contribution.

@nayse It will show up on the MIB, however different underwriters take different decisions on the same data. Having it discovered rather than previously disclosed (say to an attending physician) will make getting a policy harder. I actually got an estate planning case issued standard with...

@bayerski Both Term and WL have maturity dates. With term it just ends. With WL it ends but it can mature with cash value equal to the death benefit or it can mature with zero dollars and end worthless like term. Read your contract and it will tell you.

@ativyl Direct recognition is a whole life dividend loan system. A wash loan on an IUL is where the interest credited to the loaned amount is equal to the interest charged on the loaned amount. However the timing of the credit and charge are slightly different so it is not a true 'wash' but a...