Income Tax Definition of Life Insurance and Annuity Contracts
- ISBN-10
- 1633592472
- ISBN-13
- 9781633592476
- Category
- Annuities
- Language
- English
- Authors
- Mark E. Griffin, Craig R. Springfield, Bryan W. Keene
Description
"... addresses the definition of a life insurance or annuity contract for federal tax purposes. This Portfolio considers when a contract is treated as a life insurance contract for federal tax purposes, including when a contract is subject to the special rules applicable to a life insurance contract that also constitutes a modified endowment contract, or 'MEC'. This Portfolio also discusses various types of annuity contracts. In addition, this Portfolio addresses the diversification requirements and so-called "investor control" doctrine that apply to variable life insurance and annuity contracts, and discusses life insurance and annuity contract that provide long-term care coverage."
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