Description: The interaction of section 7702 cash value accumulation test [CVAT] and state nonforfeiture laws [SNFL] create a dual limitation on traditional life insurance contratcs. CVAT limiting the maximum permissible cash value and SNFL requiring a minimum cash surrender value. This article examines these dual limitations.

Description: This paper discusses which life insurance products are qualified under Section 7702 of the Internal Revenue Code so that the death benefit proceeds are excluded from the taxable income of the beneficiary. From Transactions of Society of Actuaries 1988, Vol. 40, Pt. 1.

Description: This article discusses risk transfer and how difficult it is to define and describe. For actuaries, the challenge is to develop an analytical framework under which the presence of insurance risk can be identified and assessed.

Description: A discussion about the Taxation Section goals and accomplishments including meetings, webinar program, volunteering and research activities.

Description: The IRS released the details of a program to allow life insurers to correct inadvertent failures to comply with the modified endowment MEC rules under section 7702A of the Internal Revenue Code the “Code”.

Description: Discusses definition of life insurance, exchanges, policy loans, single premium life products, and variable life products. From the 1988 Record of Society of Actuaries, Vol. 14, No. 2.

Description: This session discussion is about pricing on a unisex basis, regulatory developments, protecting against adverse selection, pricing considerations and experience analysis. From Record of the Society of Actuaries Vol. 15, No. 2.

Description: This article provided a 1998 update of Mutual Insurance Holding Companies. Subjects covered included state-by-status enabling status, policyholder rights under an MIHC, advantages, and criticisms.

Description: This session from the 1983 SOA Spring Meeting discusses universal life including examining new product designs, administrative issues and regulatory and tax issues.

Description: Author traces the tax treatment of deficiency reserves, beginning with the 1959 Act, illustrating how the decisions made in the development of the 1959 Act continue to affect the tax treatment of those reserves today.