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Get US Internal Revenue Service: Rr-05-6Life Insurance ...

F the Internal Revenue Code and as a modified endowment contract under 7702A, should charges for qualified additional benefits (QABs) be taken into account under the mortality charge rule of 7702(c)(3)(B)(i) or the expense charge rule of 7702(c)(3)(B)(ii)? FACTS IC is a life insurance company organized and licensed to do business in State. In Year, IC issued a Policy in State with a Rider that provides term life insurance coverage on the life of a family member of the individual insured.

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