TABLE OF CONTENTS
About Summit Business Media.............................................................................................................................................iii
Foreword......................................................................................................................................................................................v
Preface.........................................................................................................................................................................................vi
About the Author.....................................................................................................................................................................vii
Acknowledgments..................................................................................................................................................................... x
Guidelines for the Professional.............................................................................................................................................xi
PART I TOOLS
Chapter 1: Introduction to Life Insurance............................................................................................................................... 1
Chapter 2: How to Estimate the Insurance Need................................................................................................................. 19
Chapter 3: How to Determine the Right Company............................................................................................................. 43
Chapter 4: How to Determine the Right Policy.................................................................................................................... 65
Chapter 5: Legal Aspects of Life Insurance........................................................................................................................... 85
Chapter 6: Special Policy Provisions and Riders................................................................................................................ 117
Chapter 7: Adjustable Life..................................................................................................................................................... 129
Chapter 8: Annuities............................................................................................................................................................... 139
Chapter 9: Current Assumption Whole Life....................................................................................................................... 167
Chapter 10: Disability Income Insurance............................................................................................................................ 179
Chapter 11: Group Life Insurance........................................................................................................................................ 193
Chapter 12: Joint Life (First-to-Die) Insurance................................................................................................................... 207
Chapter 13: Limited Pay Whole Life Insurnace................................................................................................................. 213
Chapter 14: Ordinary Level Premium Whole Life Insurance.......................................................................................... 225
Chapter 15: Single Premium Life Insurance....................................................................................................................... 237
Chapter 16: Survivorship Life............................................................................................................................................... 249
Chapter 17: Term Insurance.................................................................................................................................................. 265
Chapter 18: Universal Life..................................................................................................................................................... 281
Chapter 19: Variable and Variable Universal Life.............................................................................................................. 297
Chapter 20: Indexed Universal Life..................................................................................................................................... 315
Chapter 21: Guaranteed No-Lapse Universal Life............................................................................................................. 325
PART II TECHNIQUES
Chapter 22: Modified Endowment Contracts..................................................................................................................... 335
Chapter 23: Section 1035 Exchanges.................................................................................................................................... 343
Chapter 24: Taxation of Benefits........................................................................................................................................... 353
Chapter 25: The Transfer for Value Rule............................................................................................................................. 367
Chapter 26: Life Insurance Valuation................................................................................................................................... 381
Chapter 27: Estate Taxation of Life Insurance.................................................................................................................... 387
Chapter 28: Gift Taxation of Life Insurance........................................................................................................................ 411
Chapter 29: Life Insurance and the Generation-Skipping Transfer Tax......................................................................... 419
Chapter 30: Viatical and Life Settlements........................................................................................................................... 427
Chapter 31: Buy-Sell Agreements......................................................................................................................................... 437
Chapter 32: Charitable Uses of Life Insurance................................................................................................................... 449
Chapter 33: Death Benefit Only (DBO) Plans..................................................................................................................... 469
Chapter 34: Irrevocable Life Insurance Trusts.................................................................................................................... 483
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Chapter 35: Key Employee Life Insurance.......................................................................................................................... 515
Chapter 36: Life Insurance in Qualified Plans.................................................................................................................... 525
Chapter 37: Nonqualified Deferred Compensation........................................................................................................... 537
Chapter 38: Pension Maximization...................................................................................................................................... 563
Chapter 39: Revocable Life Insurance Trusts...................................................................................................................... 575
Chapter 40: Section 162 Plans............................................................................................................................................... 589
Chapter 41: Split-Dollar Life Insurance............................................................................................................................... 595
APPENDICES
Appendix A: Tax Tables......................................................................................................................................................... 611
Appendix B: Accounting for Life Insurance....................................................................................................................... 615
Glossary:.................................................................................................................................................................................. 627
Index:........................................................................................................................................................................................ 649
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