Changes affecting life insurance enacted by new laws
Article Abstract:
1996 federal legislation affected death benefit exclusion under qualified plans, interest on loans against corporate-owned life insurance, and taxation of viatical settlements. The Health Insurance Portability and Accountability Act of 1996 established that accelerated death benefits paid to terminally ill policyholders would be treated like life insurance proceeds paid at death. Payments to chronically ill policyholders are excludible to the extent they are used to pay for long-term care. Interest on loans against corporate policies is only deductible for loans to key persons.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1997
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How to compare long-term care insurance policies
Article Abstract:
The author outlines the most important features of long-term care insurance and provides at checklist for use in evaluating different long-term policies. Cost and estate planning considerations are addressed. The insurer's consideration of an applicant's pre-existing health conditions is covered.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1999
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Extracting hidden value from unwanted life insurance policies
Article Abstract:
The authors discuss the sale of life insurance policies by persons with life expectancies of 12 years or less. The advantages of these life settlements to insureds are explained and the secondary market for life insurance policies is examined.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 2001
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