Description: This article is a companion to “They Go Bump in the Night: Life Insurance Policies and the Law of Material Change,” an article written by John T. Adney and Craig R. Springfield (May 2012 Taxing Times Supplement) that describes the various material change rules found in the Code, highlighting the complexities insurers face in navigating through these rules when a life insurance contract is materially changed. The Adney and Springfield article also addresses the difficulties in interpreting the tax law requirements under the various effective date rules contained in the Code sections affecting life insurance contracts.

Description: The article addresses the safe harbor guidance provided in Notice 2016-63 for 2017 CSO contracts satisfying the section 7702 reasonable mortality requirements

Description: Discusses how companies must ensure that significant and necessary product development, and administrative and compliance system changes, have been completed and tested in time to accommodate new requirements.

Description: This article is a general discussion about earnings rates and toll charges and how to compute them.

Description: This editorial highlights the peer review process that all articles in the newsletter go through.

Description: Revenue Procedure 2001-42 Rev. Proc. 2001-42, established a permanent avenue for companies to correct inadvertent modified endowment contracts, or MECs. This article discusses this new Procedure.

Description: Welcomes readers to the special supplement which takes a comprehensive look at Actuarial Guideline 43 VA CARVM.

Description: Discusses PLR 201046008, regarding addition of a rider to a variable life policy that provides a minimum annual amount of withdrawal or policy loan. Includes discussion of impact on NSP under CVAT, and Guideline Premium.

Description: Overview of upcoming second edition of book.

Description: On May 24, 2005, the Treasury Department and Internal Revenue Service published a notice of proposed rulemaking the “Notice” proposing regulations under Internal Revenue Code §7702, the federal tax definition of a “life insurance contract.” Discussion of determining 'attained age' for joint or multiple life policies.