IRS Ruling Could Help Fee-Only Advisors Use Life Insurance
October 31, 2023 by Allison Bell
The Internal Revenue Service has issued two new private letter rulings that could help life insurers create a new generation of life insurance policies aimed at fee-based and fee-only advisors.
The IRS sent the letters to Protective Life.
The letters would affect a variable universal life insurance policy that’s registered with the Securities and Exchange Commission as a security, as well as being registered with state insurance regulators as a life insurance policy.