Individual has a paid up participating whole life policy that is not a Modified endowment contract, he paid 100,000 premium into the plan. He is planning to start having the ins. Company send him the declared dividend each year. Since life ins. Policies use FIFO (first in first out) distribution schedule he should be able to receive the dividends annually with no tax consequences until he has received $100,000 (his original contributions) from the dividend distributions, correct?