Description: The panel provided a basis for discussing the implications of the new tax code to life insurance and associated products, including annuities and accident and health insurance, but no discussion of the taxation of insurance companies.

Description: Topics include: 1. Formation of the American Academy of Actuaries and governance 2. Federal tax developments - discount on life insurance advance premiums, group term life, imputed income factors under individual policy pension trusts, estate tax effect of assignment of group life coverage 3. Newly created Servicemen's Group Life Insurance - plan summary.

Description: This is a discussion about 1959 Act dealing with federal income tax on life insurance companies. Specific topics include: A. Impact the new tax law has had on: i the investment policies of individual companies, ii company accounting systems and procedures, iii actuarial bases for new contracts? B. What principles have been followed in allocating the federal income tax among the annual statement lines of business? How is the assessment to a line of business with a loss from operations established? Is the tax on the interest on surplus allocated on some general basis or with regard to the relative contributions of the different lines to the accumulated surplus? C. How is the tax taken into account in asset share tests and dividend scale determinations?

Description: Section 818c of the Life Insurance Company Income Tax Act of 1959 provides, for companies holding other than net level premium reserves, a choice of two methods: exact revaluation or approximate revaluation to this basis. This paper discusses the impact of the choice on the level of a company's tax reserves. A discussion paper follows.

Description: In this paper, the author presents the statutory and regulatory rationale for the Internal Revenue Service, ‘IRS,” position on integration. The author discusses the integration requirements under IRC Section 401a which must be met for a private pension plan to receive favorable tax treatment, including the prohibited discrimination requirement. From the 1982 Transactions Vol. 34.

Description: From the 1960 Transactions Vol. 12 No. 32, this ‘Discussion of Subjects of Special Interest’ addresses the Life Insurance Company Income Tax Act of 1959.

Description: The purpose of this paper is to set forth a mathematical technique which in the author's experience has proved useful in testing the tax implications of various management actions.

Description: After outlining some of the issues involved in the taxation of life insurance companies, this paper describes the tax consequences of various strategic courses of action by life insurance companies. From Transactions of Society of Actuaries 1981, Vol. 33.

Description: This paper examined two interrelated aspects of federal income taxation of life insurance companies. First, a common-sense approach to the Life Insurance Company Income Tax Act of 1959 was developed. Second, marginal tax rates for Phase III companies was developed.

Description: These are legal notes concerning policy owner federal income tax, taxation to an agent for expenses for sales convention travel, claims contest on a policy with false statements on the application, timing on surrender of a life insurance policy immediately before death, permitted investment by a life insurance company in a property/casualty company, extraterritorial issues pertaining to regulation of group life insurance, and tax deduction for reserves on pension contracts covering its own employees.