Discover life insurance as a tax free asset
Article Abstract:
Life insurance products provide a valuable tax shelter benefit while still providing insurance protection. Insurance products that are especially beneficial because they emphasize cash value include universal life, whole life and variable life. Each of these insurance policies gradually increase cash value while at the same time helping to reduce premiums. Additionally, each of these insurance products must meet tests established by the IRS if they are to be called life insurance products.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
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Mortal danger: between the burgeoning viatical settlements market and the tacit danger of beneficiaries tempted into harming insureds, insurers must find ways to safeguard the secondary markets for life insurance and annuities
Article Abstract:
Life insurance firms need to take into account the risks associated with secondary markets for annuities and life insurance. Only licensed insurers can market morbidity- or mortality oriented contracts and the insured need to cooperate with insurance firms to evaluate the mortality or morbidity risk. Life insurance purchasers need to have an insurable interest in the proposed insured and insurance owners can hold or sell an annuity contract or a life insurance after legally acquiring them.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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Split-dollar headaches following key IRS ruling
Article Abstract:
In Jan 1996, the Internal Revenue Service issued a Technical Advice Memorandum ruling that employees must include the excess cash surrender value of split-dollar life insurance policy returnable to them on their tax returns. Split-dollar life insurance is an employee benefit plan for which an employee includes the annual premium cost as income on tax returns. Defined contribution cash transfers, employee contributions, and death benefits are not affected.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1996
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- Abstracts: Honing the competitive edge. Honing the competitive edge: insurers that refine their products and services to meet customer expectations are the ones most likely to sustain competitive advantage
- Abstracts: Changing the way career agents are trained. Continuing education must be a way of life. Mentoring is one approach to agent retention issue
- Abstracts: The never-ending search for assets. Switch to Plan B; new hope for those with AIDS has viatical-settlement companies targeting other terminal illnesses and repositioning their product as an estate-planning tool
- Abstracts: Giving away the family business. Compounding outperforms excise tax break savings. Buy/sell agreements key to succession planning