We take a comprehensive look at the amendment to the Internal Revenue Code’s Section 7702. The change, enacted as part of the Consolidated Appropriations Act, 2021 (H.R. 133), redefines how policies qualify as life insurance contracts under the tax code. It also spells out how much cash can accumulate inside a policy without being taxed. We walk you through what to expect and how to navigate this change for your clients.

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About Uncommon Solutions:
Uncommon Solutions, presented by Schechter, provides a unique perspective on an assortment of advanced financial topics for high-net-worth clients and advisors.