KCI Tax
Interpretation
The KCI Tax InterpretationTM
is a 275+ page business specification
detailing methods & calculations for providing tax law compliance testing
for life insurance contracts.
Product support for variable,
universal, and traditional life insurance and associated riders.
Tax functionality includes:
·
Internal
Revenue Code Sections 72(e)
o Cost basis
o Taxable gains
·
7702
(DEFRA)
o Definition of life insurance
o Cash value accumulation testing
o Guideline premium testing
o Recapture ceiling
·
7702A
(TAMRA)
o MEC, 7-Pay testing
o Necessary Premium testing,
o Reduction testing
o Material Change testing
·
1035 exchanges
Transaction support for all
significant tax events (e.g. premium payments, partial surrenders, loans,
contract changes, etc.).
Click
here for table
of contents. Click here for a sample section of the document.
We will license this material on an
Contact us for pricing details.
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Last updated: March
1, 2006