In addition, several large corporations and other entities that used or have proposed using corporate-owned life insurance
have faced legal scrutiny and strong media criticism.
We saw a swing from employers using almost no corporate-owned life insurance
to using a whole lot," Hess says.
2) For this reason, policy proceeds of corporate-owned life insurance
should generally be payable only to the corporation or its creditors.
2 in getting a compromise measure through his committee on a voice vote that would restrict the circumstances under which corporate-owned life insurance
benefits would continue to be tax-free.
In a clear example of rent seeking, the American Council of Life Insurers opposes the legislation (Francis 2003b)--hardly surprising, given that corporate-owned life insurance
has accounted for at least one-fourth of new insurance sales in recent years (Francis 2003c).
Lange referred to the IRS's three tax shelter settlement initiatives: corporate-owned life insurance
(COLI), section 302/318 basis-shifting transactions, and section 351 contingent liability transactions (which included either a fixed-settlement option or an opportunity to mediate a particular case).
Today, the company holds assets to balance its EDC plan liability in the form of corporate-owned life insurance
The use of corporate-owned life insurance
("COLI") contracts as tax-advantaged funding vehicles has recently emerged as an important issue in Washington.
As the former executive vice president with NYLEX Benefits, his responsibilities included development of nonqualified executive benefit programs financed with corporate-owned life insurance
Proceeds from corporate-owned life insurance
policies paid to the corporation may generate an Alternative Minimum Tax (AMT).
Chaffee will lead the marketing and business development of the firm s financial institution services area, including the marketing of bank-owned life insurance (BOLI) and corporate-owned life insurance
Of particular interest to life insurance professionals is the percentage of plans informally funded with corporate-owned life insurance