MODIFIED ENDOWMENT CONTRACT - MEC
An endowment contract where the cumulative premium payments surpass certain amounts indicated under the Internal Revenue Code. If the endowment period is larger than the policy’s face value, the life insurance policy will be a Modified Endowment Contract (MEC). Taxation under this is the same with the taxation under an annuity, and also the death benefit given to the beneficiary is not subject to income tax.
POPULAR TERMS
Specific-Shares Method
Specific-shares method is a personal financial accounting whose purpose is to cut down realized capital gains for multiple stock or mutual fund pur ...
Voting Trust Certificate
Voting Trust Certificate is a document issued by the limited-life trust of a corporation, which is created to limit the control of a corporation to ...
Sample Selection Bias
Sample Selection Bias is a type of bias resulting from the selection of non-random data meant for statistical analysis.
Combined Loan to Value Ratio - CLTV Ratio
Ratio determining the default risk of a potential homebuyer if he would purchase a home using multiple mortgages. In general, creditors are willing ...
Contagion
Possibility a significant economic changes in a country will spread to other nations. It pertains to the spread of either an economic boom or econo ...
POPULAR ARTICLE
SEE FOREX TUTORIAL
An Introduction to the Basics of Economics
Economics, as defined by the dictionary, is the science that is concerned with the process or system by which goods and services are produced, sold ...
A Guide to Your Personal Income Tax: Basics
For many filing your personal income tax is one of the most frustrating things to do. However, by planning ahead and pacing yourself, doing your ta ...
Health Savings Account: Introduction
In essence, health savings account shoulders any health- and medical-related expenses that are not included in the high-deductible health plan. Pay ...
Getting to Know The Federal Reserve
The world’s largest economy in the world is the economy of the United States and running it, keeping it in check, and making sure that it doe ...
Starting Your Own Small Business: Financing a Business
After choosing the business you want to go into, regardless of the line of business, you need a startup capital in order to keep the business going ...
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 02:01 | Rightmove House Prices | Mar | |
| 04:00 | Fixed Asset Investment | Feb | |
| 04:00 | Industrial production | Feb | |
| 04:00 | Retail Sales | Feb | |
| 04:00 | Unemployment Rate | Feb | |
| 04:00 | NBS Press Conference | ||
| 14:15 | Housing Starts | Feb | |
| 14:30 | Consumer Price Index | Feb | |
| 14:30 | Consumer Price Index Core | Feb |
