Article Abstract:
The federal government must clarify the tax status of living benefits and long-term care insurance policies to spur purchases by younger consumers. Consumer protection issues and industry standards should be regulated by individual states. The number and diversity of bills currently being debated in Congress suggests this issue will not be settled for some time.
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Article Abstract:
Internal Revenue (IRS) rulings concerning taxation of the insurance industry are discussed. Some rulings point to a no ruling position. Limitations on tax accounting benefits afforded to insurers are mentioned. All the rulings mentioned concern life insurance and benefit plans. The rulings are analyzed and trends are identified.
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Article Abstract:
The banking industry is becoming very involved with the insurance industry. More deregulation is being sought which will create more involvement. Insurance companies have a lot to lose and would profit by less deregulation.
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