Modified Endowment Contract

Modified Endowment Contract Life insurance in which funds such as policy loans, assignments, pledges, and partial surrenders are considered gross income and subject to income tax.

Investing theory in which portfolio managers estimate and manage risk and return.

Modified Endowment Contract ...

Modified Endowment Contract: Life insurance in which funds are considered as gross income and are subject to income tax.
Momentum: Time series representing change of today's price from some fixed number of days back in history.

In 1988 changes were made in the tax code, and single premium policies purchased after were "Modified Endowment Contract (MEC)" and subject to less advantageous tax treatment.

See also: Earnings, Deposit, Model, Minima, Point