Law Commons^™

Insurance--Liability Of Insurer For Unauthorized Act Of Soliciting Agent, H. G. U.

West Virginia Law Review

No abstract provided.

Banking Without Guarantees? Public Policy Considerations Concerning Insurance Company Retained Asset Accounts, Jill M. Bisco, Chad G. Marzen

University of Baltimore Law Review

During a child’s early years, many lessons are learned about the way the world operates. There are many lessons about language— schoolchildren learn how to write cursive, to write paragraphs, and also how to spell. There are lessons about the various continents and countries around the world, the various cultures, and the various careers one can pursue after entering into adulthood. Amidst these lessons, many will receive a piggy bank for the first time to learn the value of saving money. Over time, the value of the money in a piggy bank sometimes yields a surprise. Around a person’s teenage …

The Family Llc: A New Approach To Insuring Dynastic Wealth, Evan Michael Purcell

The Journal of Business, Entrepreneurship & the Law

This Article introduces the taxpayer to the basic background principles needed to understand the inner workings of the investment, then provides a guide to drafting considerations for the family's attorney, and concludes with a general plan to maintain business legitimacy and take advantage of tax-favored status, while retaining the flexibility essential to combating the unexpected. Part II addresses the historically favored tax treatment of life insurance products, as well as relatively recent restrictive reforms. Part III addresses the background foundation of the LLC entity and surveys its skeletal structure. Part IV introduces a practical example of how to create an …

Death From Autoerotic Asphysxiation And The Double Indemnity Clause In Life Insurance Policies: The Latest Round In Accidental Death Litigation, Francis Achampong

Akron Law Review

This paper examines the cases that have been decided on this issue, seeking to determine whether recovery under the double indemnity provision revolves around the type of clause used in the policy, or on the particular jurisdiction's stand on what is "accidental," regardless of policy language. The author seeks to determine whether any particular trend may be elicited from these cases that may shed light on the likely disposition of future cases

Insurance, Robert A. Seligson

Cal Law Trends and Developments

No abstract provided.

May Harvey Rest In Peace: Lakin V. Postal Life And Casualty Company, Robert H. Jerry ,Ii

Nevada Law Journal

No abstract provided.

Regulating Viatical Settlements: Is The Invisible Hand Picking The Pockets Of The Terminally Ill?, Russell J. Herron

University of Michigan Journal of Law Reform

The newly emerging viatical settlement industry has attracted considerable attention from both insurance regulators and advocates for the terminally ill. In a viatical settlement, a terminally ill person names a viatical settlement company as beneficiary under his life insurance policy in exchange for an immediate lump-sum cash payment of less than face value of the policy. To date, viatical settlement payments to people with AIDS (PWAs) have been disturbingly low as a percentage of the face value of PWA policies. This Note examines the few enacted viatical settlement regulations and the National Association of Insurance Commissioners' model regulations as they …

The Validity Of Time Limitations In Accidental Multiple Indemnity Death Provisions Of Life Insurance Policies, Samuel J. Arena Jr.

Villanova Law Review

No abstract provided.

Insurance--Effective Termination--Temporary Contract Of Life Insurance Requires Both Notice And Refund Of Premium For Termination, Thomas F. Cassidy

Fordham Urban Law Journal

Plaintiff Dolores Smith appealed from a judgment in a favor of the Westland Life Insurance Company after a nonjury trial. Mrs. Smith, as the widow and administratrix of the estate of her husband, sought recovery of $10,000 under a temporary life insurance contract. Mr. Smith had paid the first month’s premium and received a conditional receipt, also known as a binder or a binding receipt, from a soliciting agent of Westland on April 8, 1963. However, due to the hazardous nature of Smith’s employment as a railroad laborer, Westland issued him a modified policy, with increased premiums, on April 24. …

Irrevocable Term Life Insurance Trusts And Gifts In Contemplation Of Death Under § 2035, Edward S. Graves, Stephen M. Finley

Washington and Lee Law Review

No abstract provided.

The Life Insurance Company Income Tax Act Of 1959: Tax-Exempt Intercorporate Distributions In Consolidated Filing

Washington and Lee Law Review

No abstract provided.

Estate Tax--Life Insurance--Section 2035 As A Basis For Including Life Insurance Proceeds In The Gross Estate Of An Insured Who Paid Premiums On A Policy Owned By Another Person, Michigan Law Review

Michigan Law Review

If a decedent possessed any of the incidents of ownership of a life insurance policy, or if the policy proceeds were payable to his executor, the entire amount of the insurance proceeds is included in his estate for estate tax purposes under section 2042 of the Internal Revenue Code of 1954 (Code). However, if the decedent had transferred ownership of the policy to another person in a transaction that both met the requirements of section 2042 and was not regarded as "in contemplation of death," but continued to pay the insurance premiums until his death, it is unclear whether any …

Life Insurance Price Measurement, Joseph M. Belth

Kentucky Law Journal

No abstract provided.

Corporations Insuring Employees' Lives, E. Ralph Cotham, Iv

Vanderbilt Law Review

The Sixth Circuit Court of Appeals' in 1959 reversed a tax court holding that a life insurance contract taken out by a corporation to insure an employee's life was a wagering contract because neither the corporation nor the beneficiary possessed an insurable interest in the employee's life and that the proceeds were thus not excludible as an amount received "under a life insurance contract." In 1964 the Fifth Circuit Court of Appeals affirmed a federal district court's judgment entered on a jury's verdict that a corporation, which was both owner and the beneficiary of a life insurance policy, had no …

The Regulation Of Specialty Policies In Life Insurance, Spencer L. Kimball, Jon S. Hanson

Michigan Law Review

Every entrepreneur is vitally concerned with selling methods. Success depends upon sales. Sales depend upon desire for the product. Desire for most products, including life insurance, is not inherent but is created by the efforts of the entrepreneur. In the case of life insurance, an effective job of creating the desire, i.e., of selling, is usually necessary to convince a prospective insurance buyer that over a long period he should allocate a significant portion of his income to the purchase of an intangible such as life insurance.

Policyholders' Interest Income From Life Insurance Under The Income Tax, Richard Goode

Vanderbilt Law Review

Life insurance policies usually combine pure insurance and saving features. This fact is recognized by the industry and by those who draw up national economic accounts but is not fully reflected in the income tax. None of the return on saving through life insurance is taxed to a policyholder prior to the maturity, redemption, or surrender of a policy. Part of the return, but apparently only a small fraction of the total, is taxed when policies mature for reasons other than the death of the insured or are redeemed or surrendered. Inasmuch as most forms of investment income are taxable, …

Insurance Law- Business And Investment Limitations - Authority Of Foreign Life Insurer To Acquire A Fire And Casualty Subsidiary, G. E. Oppenneer

Michigan Law Review

Plaintiff, a Connecticut life insurer, proposed to acquire a controlling stock interest in a fire and casualty insurance company. The New York Superintendent of Insurance, supported by the state Attorney General, advised that plaintiff would thereby disqualify itself from doing business in the state under the business and investment limitations of the Insurance Law. Plaintiff sought a declaratory judgment that its proposal was permissible. The supreme court denied plaintiff's motion for summary judgment, granted defendant's cross-motion and dismissed the complaint; the appellate division affirmed. On appeal, held, reversed, three judges dissenting. The legislature did not intend to extend the …

Bankruptcy--Life Insurance--Trustee Not Entitled To Case Surrender Value Of Policy, Arthur Mark Recht

West Virginia Law Review

No abstract provided.

Effect Of Presumption Of Death After Unexplained Absence Upon Life Insurance Policies, R. G. D.

West Virginia Law Review

No abstract provided.

Insurer Liable For Beneficiary's Murder Of Life Insured

Washington and Lee Law Review

No abstract provided.

Federal Taxation - Tax Aspects Of Corporate Buy And Sell Agreement, Joel D. Tauber S.Ed.

Michigan Law Review

It is the purpose of this comment to consider the tax problems connected with both types of "conventional" corporate buy and sell agreements. It should be recognized, however, that there are many questions of local law and business necessity that also exert influence on the use of such agreements.

Taxation - Federal Estate Tax - Insurance And Annuity Combinations, John B. Schwemm S.Ed.

Michigan Law Review

Decedent, aged seventy-six, invested in three single premium life insurance policies. Issuance of each was conditioned on the purchase of a single life, nonrefundable annuity of specified value, and no physical examination was required. Each combination was balanced so that the total premium, exclusive of loading charges, equalled the face value of the insurance. The resulting correlation between compound interest and annuity disbursements made the guaranteed payments to the annuitant correspond precisely with the expected income of a reinvestment of the entire deposit by the insurer. Decedent retained the annuity rights, but all present and future interests in the life …

Forgotten Insurance Policies In Divorce Cases

Washington and Lee Law Review

No abstract provided.

Insurance--Authority Of Agent To Waive Conditions Of Policy, C. S. Mcg.

West Virginia Law Review

No abstract provided.

Recovery Of Insurance When Beneficiary Causes Death Of Insured, R. J. W.

West Virginia Law Review

No abstract provided.

Insurance-Validity Of Attempted Change Of Beneficiary Of Life Insurance Without Compliance With Policy Requirement. [Texas]

Washington and Lee Law Review

No abstract provided.

Book Reviews, Harold W. Holt (Reviewer), Harold G. Wren (Reviewer), Walter Chandler (Reviewer), Harold W. Hannah (Reviewer)

Vanderbilt Law Review

Marital Property in Conflict of Laws By Harold Marsh, Jr. Seattle: University of Washington Press, 1952. Pp.

reviewer: Harold Wright Holt

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Life Insurance and Estate Tax Planning By William J. Bowe Nashville: Vanderbilt University Press, November 1952 Revision. Pp. 109.$2.10

reviewer: Harold G. Wren

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Caruthers' History of a Lawsuit Seventh Edition by Sam Gilreath Cincinnati: The W. H. Anderson Company, 1951. Pp. 1088. $17.50.

reviewer: Walter Chandler

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Legal Status of the Tenant Farmer in the Southeast By Charles S.Mangum Chapel Hill: University of North Carolina Press, 1952.Pp. viii, 478, $7.50.

reviewer: Harold W. Hannah

Insurance-Liability Of Insurance Company For Failure To Act Promptly On Application For Life Insurance Policy. [North Dakota]

Washington and Lee Law Review

No abstract provided.

Book Reviews, Robert J. Lynn (Reviewer), William J. Bowe (Reviewer), Samuel J. Foosaner (Reviewer), Stanley D. Ross (Reviewer)

Vanderbilt Law Review

Handbook on the Law of Future Interests

By Lewis M. Simes

St.Paul, West Publishing Co., 1951. Pp. xv, 495. $8.00

reviewer: Robert J. Lynn

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Tax Savings in Real Estate Transactions

Prepared by Bureau of Analysis, Davenport, Iowa. Chicago: Published under auspices of National Institute of Real Estate Brokers of the National Association of Real Estate Boards, 1951. Pp. 98. $5.00

reviewer: William J. Bowe

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Income Tax Treatment of Life Insurance proceeds and other Tax Articles

By William J. Bowe

Nashville: Vanderbilt University Press,1951. Pp. 90. $2.10

reviewer: Samuel J. Foosaner

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Justice According to Law

By Roscoe Pound …

The Limitation Of Taxation Of Transfers In Contemplation Of Death By The Revenue Act Of 1950, Edmund W. Pavenstedt

Michigan Law Review

The Revenue Act of 1950 amended the estate tax provision dealing with transfers in contemplation of death, which has been on the books ever since the estate tax first appeared as a war emergency measure during World War I, by eliminating from this category all transfers made more than three years prior to the date of death. All transfers made within that period are deemed under the new law to have been made in contemplation of death (and hence are includible in the transferor's gross estate) unless the contrary is shown. Such a rebuttable presumption formerly was limited by the …