2023年11月29日 · Section 7702 of the U.S. Internal Revenue Service (IRS) Tax Code defines what the federal government considers to be a legitimate life insurance contract and is used to determine how...

Section 7702(a) provides that, for a contract to qualify as a life insurance contract for Federal income tax purposes, the contract must be a life insurance contract under the applicable law and must either (1) satisfy the cash value accumulation test of

2024年11月13日 · IRS Section 7702 was created to help define if a life insurance policy qualifies for favorable tax treatment. When a life insurance policy meets the IRS’s 7702 requirements, the payout is...

2025年1月23日 · IRS Section 7702 defines the requirements for a cash value life insurance policy to receive significant tax advantages. Section 7702 considers premiums paid, cash value accumulated...

2023年3月31日 · Section 7702 of the IRC presents a contract’s requirements to qualify as a cash-value life insurance policy. The policy’s death benefit and cash value are regarded as the beneficiary’s taxable income if the policy doesn’t meet these requirements.

2025年1月22日 · Read Section 7702—Life insurance contract definied—from the Internal Revenue Code of 1986 on Tax Notes. Access and review the full-text code on this page.

2021年5月12日 · Section 7702 is the part of the tax code that defines how life insurance must be designed to qualify for its important tax treatment. The government recently updated it to modernize the code for today’s low interest rate environment.

2022年4月21日 · Section 7702 is the part of the IRC that defines what qualifies as a life insurance policy or contract for tax purposes using two tests: the cash value accumulation test (CVAT) and the guideline premium and corridor test (GPT).