Life Insurance (Individual and Group)

Free CFP Exam lesson in Risk Management and Insurance Planning. 18 min read, ~2,650 words.

Non-MEC = FIFO (basis out first, tax-free); MEC = LIFO (gain first, taxable + 10% penalty before 59½). Section 79: subtract the $50,000 exclusion, apply Table I rates, multiply by 12. Death benefits are income-tax-free under IRC 101(a); cash value grows tax-deferred. Convertibility rider preserves original health class but premium...