| Indicates the proposed (or in-force) policy inherited the Modified Endowment Contract (MEC) classification from the policy being (was) exchanged and conforms to the rules set forth in the U.S. IRS Tax Code 1035. TRUE if the policy, or any of the policies to be exchanged for the proposed policy, is a MEC, FALSE otherwise. This property would only appear on the policy being exchanged if it too, inherited its classification from a prior policy. This is a U.S. specific property.See MECIND for a detailed definition of MEC. |