If a policyowner of a life insurance policy accidently pays in premiums in excess of the MEC guidelines, the insurer can refund the excess within 60 days of the end of the contract year.
Step-by-step explanation:
Usually the insurers administer MEC checks on their plans regularly, so there is no need to think about activating the certification inadvertently and not being informed. You're going to get a warning.
Although your policy premiums exceed the 7-pay test, your insurance company is notified 60 days before returning the overage to you.
All this is impossible that you will have to pull your calculator out and do a few equations in hard math. You can always contact the representative for peace of mind and remind them what the annual max-pay is. You know that you are well within the guidelines if your average compensation is 20K in premiums per year.