TABLE OF CONTENTS
Dedication............................................................................................................................................................................................. iii
Acknowledgement............................................................................................................................................................................... v
About the Authors............................................................................................................................................................................ vii
Preface to the Fourth Edition............................................................................................................................................................. ix
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............................................................................................................... 49
Chapter 4 How to Determine the Right Policy..................................................................................................................... 71
Chapter 5 Legal Aspects of Life Insurance.......................................................................................................................... 91
Chapter 6 Special Policy Provisions and Riders................................................................................................................ 121
Chapter 7 Adjustable Life..................................................................................................................................................... 131
Chapter 8 Annuities............................................................................................................................................................... 141
Chapter 9 Current-Assumption Whole Life....................................................................................................................... 169
Chapter 10 Group Life Insurance........................................................................................................................................... 181
Chapter 11 Joint Life (First-to-Die) Insurance..................................................................................................................... 195
Chapter 12 Limited-Pay Whole Life Insurance.................................................................................................................... 201
Chapter 13 Ordinary Level-Premium Whole Life Insurance.............................................................................................. 213
Chapter 14 Single Premium Life Insurance........................................................................................................................... 225
Chapter 15 Survivorship Life.................................................................................................................................................. 237
Chapter 16 Term Insurance..................................................................................................................................................... 251
Chapter 17 Universal Life........................................................................................................................................................ 265
Chapter 18 Variable and Variable Universal Life................................................................................................................. 281
PART II TECHNIQUES
Chapter 19 Modified Endowment Contracts........................................................................................................................ 297
Chapter 20 Section 1035 Exchanges...................................................................................................................................... 305
Chapter 21 Taxation of Benefits............................................................................................................................................. 315
Chapter 22 The Transfer for Value Rule............................................................................................................................... 329
Chapter 23 Estate Taxation of Life Insurance...................................................................................................................... 343
Chapter 24 Gift Taxation of Life Insurance........................................................................................................................... 367
Chapter 25 Life Insurance and the Generation-Skipping Transfer Tax............................................................................ 375
Chapter 26 Accelerated Death Benefits and Viatical Settlements.................................................................................... 383
Chapter 27 Buy-Sell Agreements........................................................................................................................................... 395
Chapter 28 Charitable Use of Life Insurance....................................................................................................................... 407
Chapter 29 Death Benefit Only (DBO) Plans....................................................................................................................... 427
Chapter 30 Irrevocable Life Insurance Trusts..................................................................................................................... 439
Chapter 31 Key Employee Life Insurance............................................................................................................................ 471
Chapter 32 Life Insurance in Qualified Plans....................................................................................................................... 481
Chapter 33 Nonqualified Deferred Compensation.............................................................................................................. 493
Chapter 34 Pension Maximization.......................................................................................................................................... 517
Chapter 35 Revocable Life Insurance Trusts....................................................................................................................... 529
Chapter 36 Section 162 Plans................................................................................................................................................. 541
Chapter 37 Split Dollar Life Insurance.................................................................................................................................. 545
APPENDICES
Appendix A Tax Tables............................................................................................................................................................. 559
Appendix B Accounting for Life Insurance........................................................................................................................... 563
Glossary............................................................................................................................................................................................. 573
Index................................................................................................................................................................................................... 595