Jan 29
Life Insurers’ Tax Break May Become Revenue Target
Here’s an interesting article posted by a Bloomberg reporter.
Here’s an excerpt: ” Life insurance is sold with the promise that policy-holders can beat at least one of life’s two certainties: taxes. That pitch may have to change.
Northwestern Mutual Life Insurance, Prudential Financial Inc., MetLife Inc., New York Life Insurance Co. and other insurers may be facing a new fight to preserve a tax break that has grown to $28 billion a year since it was first written into U.S. law in 1913. As Congress looks for sources of revenue to curb the federal budget deficit, that benefit — which allows life insurers to market their policies as tax-free savings accounts — may make an attractive target.”
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