Description: This session from the 1983 SOA Hollywood, Florida Meeting discusses the implications of UNISEX legislation and the Norris Decision, the impact of the proposed tax law, variable products and Large Amount Term Insurance persistency and mortality. Record of Society of Actuaries Vol.9, No. 4

Description: Congress has acted in recent years to remove outdated provisions governing the federal income taxation of life insurance companies from the Internal Revenue Code. In particular, section 809 and section 815 were repealed and suspended, respectively, in 2004. This article chronicles the demise of these provisions and explains why Congress was right in removing them from the Code.