Paying 7 Payments of a 10 Pay and Stopping

[blue_wynd]

So? TEFRA/DEFRA applies to all life insurance policies.

Right, should have probably add the policy being whole life with no PUAs and the dividends set to paid up additional, thus increasing the death benefit along with it too whenever. So when he does decide to change it to a paid up policy after the 7 years the test wouldn't be a cause for concern. Or am I missing something?

 

[Deepsea]

That's what I am hoping if I decide to turn it into a paid up policy after the 7th payment

 

[Larry Tew]

I've never seen a reduced paid up run afoul of DEFRA.