Description: The different broad purposes served by the material change concept under federal tax law are outlined. More specific material change and similar issues that are pertinent to particular Code provisions and guidance from the IRS that has addressed those issues are also addressed. In the final part of this article, authors comment on whether any overarching principles can be gleaned that can assist insurers and policy owners in making decisions about whether particular changes can safely be made, and thoughts are offered with respect to future potential IRS guidance that would be helpful as taxpayers navigate these often uncertain waters.

Description: Chairman’s letter comparing risk management profile of the games of Craps and Life Settlements

Description: Discussion of new individual life, annuity and disability product developments designed to meet conditions in today's market. This article was presented at the Spring 1975 Meeting in Los Angeles.