What are the disadvantages of MEC?

What are the disadvantages of MEC?

There are some cons of a MEC that you will want to avoid if your policy is not currently considered a Modified Endowment Contract. If your policy becomes a MEC, this advantage (FIFO) goes away and the policy is treated like a typical retirement vehicle, such as a non qualified annuity. Jan 22, 2021

See also  What are the disadvantages of life insurance?