• 1983 0311 - GOV - Taxation of Financial Services Industry - [PDF-356p, No Video]

My purpose is to:

  • look at some of the trends in taxation of the life insurance industry and its products,
  • describe the current TEFRA tax environment and its potential impact on product pricing and development, and
  • then to look ahead to what might be expected after TEFRA.


1983 - INDIVIDUAL LIFE INSURANCE, Society of Actuaries

  • 1981 - GAO - Billions Of Dollars Are Involved In Taxation Of The Life Insurance Industry -- Some Corrections In The Law Are Needed - 242p
  • 1982 - GAO - Modified Coinsurance Used to Reduce Taxes - 9p
  • 1982 JCT General Explanation of the Revenue Provisions TEFRA jcs-38-82
  • 1983 JCT COMPARISON OF PRESENT LAW, A DISCUSSION PROPOSAL AND POSSIBLE CLARIFICATIONS....relating to the tax treatment of life insurance companies and their products
  • 1984 - GOV - Tax Treatment of Life Insurance Products and Policyholders HRG98-790
  • 1988 0927 - GOV - Overview of federal tax treatment of life insurance companies and 1988 interim Treasury Department report: scheduled for a hearing before the Subcommittee on Select Revenue Measures of the Committee on Ways and Means on September 27, 1988

818(C), ModCo, Guideline Level Premium, Guideline Single Premium, MEC, TEFRA, DEFRA, CVAT, GPT, 7702, 101, Corridor, Inside Buildup

Life Insurance and Modified Endowments Under Internal Revenue Code Sections 7702 and 7702A, Second Edition -Chris DesRochers, John T. Adney, Brian King and Craig Springfield. 2015

§7702. Life insurance contract defined

  • On November 1, 2005, The President's Advisory Panel on Federal Tax Reform ("Panel") submitted its report ("Report") to the Secretary of the Treasury.1
  • At 272 pages, this is the most important and wide-ranging plan to reform the United States federal tax system since Blueprints for Basic Tax Reform (1977).2

2006 - AP -The Report of the President's Advisory Panel on Federal Tax Reform: A Critical Assessment and a Proposal, Reuven S. Avi-Yonah

  • The Save for Retirement accounts would replace existing IRAs, Roth IRAs, Nondeductible IRAs, deferred executive compensation plans, and tax-free “inside buildup” of the cash value of life insurance and annuities.
  • Contributions would be made with after-tax dollars like current law Roth IRAs and earnings would grow taxfree.