Industry Says 'Me Too' to Stimulus Plan
Investment News (10/15/01) p.1; Hansard, Sara

The ACLI is looking to repeal parts of the tax code that require stock life insurance companies to continue recording notations on their accounts for "policyholder surplus accounts." Those accounts, says ACLI's Doug Bates, are only book entries and hold no assets. However, stock life insurance companies are required to keep them on their books to make up for investment income that the industry was permitted to exclude from income between 1959 and 1984, he notes.

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