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Yes whole life has required premiums unless you do a reduced paid-up option or you have a limited pay policy and are taking out loans after it is paid up.
Yes there are direct and non direct recognition policies as you described.
The cost for borrowing depends on each company. Generally speaking fixed rates have higher interest rates than variable rates because of the current interest rate environment.
Regarding MEC contracts, it's a seven pay test not a 20 to 30-year pay test.
Yes there are direct and non direct recognition policies as you described.
The cost for borrowing depends on each company. Generally speaking fixed rates have higher interest rates than variable rates because of the current interest rate environment.
Regarding MEC contracts, it's a seven pay test not a 20 to 30-year pay test.
