Handling Losses on Surrender of a Life Insurance Policy

Date
2008-05-16
Authors
Harl, Neil
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The issue of deductibility of losses on surrender of a life insurance policy or policies has loomed as the interest rates prevailing at the time insurance policies were taken out have fallen, producing economic losses (and what might, at first glance, appear to be tax losses) on surrender of the policy.1 The rules are different, it should be noted, for the surrender of annuities without life insurance features.

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