Modified Endowment Contract - MEC — If the cumulative premium payments exceed certain amounts specified under the Internal Revenue Code, the life insurance policy will become a Modified Endowment Contract (MEC). Taxation under a MEC is similar to taxation under an annuity. Under a… … Investment dictionary
contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… … Law dictionary
Endowment — • A property, fund, or revenue permanently appropriated for the support of any person, institution, or object, as a student, professorship, school, hospital Catholic Encyclopedia. Kevin Knight. 2006. Endowment Endowment … Catholic encyclopedia
endowment policy — ☆ endowment policy n. an insurance policy by which a stated amount is paid to the insured after the period of time specified in the contract, or to the beneficiaries in case the insured dies within the time specified * * * … Universalium
endowment policy — ☆ endowment policy n. an insurance policy by which a stated amount is paid to the insured after the period of time specified in the contract, or to the beneficiaries in case the insured dies within the time specified … English World dictionary
Contract curve — Blue contract curve showing points of tangency of indifference curves in an Edgeworth box In microeconomics, the contract curve is the set of points, representing final allocations of two goods between two people, that could occur as a result of… … Wikipedia
Endowment policy — An endowment policy is a life insurance contract designed to pay a lump sum after a specified term (on its maturity ) or on earlier death. Typical maturities are ten, fifteen or twenty years up to a certain age limit. Some policies also pay out… … Wikipedia
Endowment assurance — Insurance In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or… … The Collaborative International Dictionary of English
Endowment insurance — Insurance In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or… … The Collaborative International Dictionary of English
University Endowment Lands — Infobox Settlement official name = University Endowment Lands other name = native name = nickname = settlement type = Unincorporated area motto = imagesize = image caption = imagesize = image caption = flag size = image seal size = image shield … Wikipedia
pure endowment — noun : an insurance contract promising to pay the insured a stated sum if he survives a specified period with nothing payable in case of prior death compare endowment insurance … Useful english dictionary
