Download or read book Income Tax Definition of Life Insurance and Annuity Contracts written by Mark E. Griffin and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "... addresses the definition of a life insurance or annuity contract for federal tax purposes. This Portfolio considers when a contract is treated as a life insurance contract for federal tax purposes, including when a contract is subject to the special rules applicable to a life insurance contract that also constitutes a modified endowment contract, or 'MEC'. This Portfolio also discusses various types of annuity contracts. In addition, this Portfolio addresses the diversification requirements and so-called "investor control" doctrine that apply to variable life insurance and annuity contracts, and discusses life insurance and annuity contract that provide long-term care coverage."