<P> In some cases , such as for estate planning , a person may purposely create a modified endowment contract in order to purchase the least insurance and therefore have the lowest insurance costs possible in order to receive the desired benefit . It may be used to pass more money on to heirs . After a life insurance policy is considered a modified endowment contract , it can not be reclassified as a standard life insurance contract again . </P>
<P> In some cases , such as for estate planning , a person may purposely create a modified endowment contract in order to purchase the least insurance and therefore have the lowest insurance costs possible in order to receive the desired benefit . It may be used to pass more money on to heirs . After a life insurance policy is considered a modified endowment contract , it can not be reclassified as a standard life insurance contract again . </P>
when does a life insurance policy become a modified endowment contract
when does a life insurance policy become a modified endowment contract
lowest insurance costs possible in order to receive the desired benefit
lowest insurance costs possible in order to receive the desired benefit