Life Insurance and Modified Endowments Under Internal Revenue Code Sections 7702 and 7702A, 2nd Edition

This new edition of the innovative book provides a comprehensive analysis of the life insurance qualification requirements imposed by the Internal Revenue Code. It presents a restructuring and expansion of materials from the first edition, with more than 150 pages of new information, including two student-friendly chapters introducing the qualification requirements of Sections 7702 and 7702A. A new chapter is dedicated to the qualification requirements of sections 101(g) and 7702B for accelerated death benefits and long term care rider. This edition also includes expanded discussions Adoption of the 2001 CSO mortality tables and the relevant IRS guidance relating to the section 7702(c)(3)(B)(i) “reasonable mortality” requirements The 2008 updates to the IRS correction procedures for noncompliance with sections 7702 and 7702A Numerous private letter ruling and other IRS guidance issued since the publication of the first edition And much more Authors Christian J. DesRochers, FSA, MAAA (deceased); John T. Adney, a partner in the law firm of Davis & Harman LLP; Brian G. King, FSA, MAAA, an executive director with Ernst & Young LLP’s Insurance and Actuarial Advisory Services practice; and Craig R. Springfield, also a partner in the law firm of Davis & Harman LLP team up to write a well-balanced book combining their extensive knowledge. The result is a text that reflects the actuarial theory, tax policy and political compromises underlying the statutory limitations.