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Article: Private placement VL is getting attention.(variable life insurance)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- December 15, 1997
- Author:
CopyrightCOPYRIGHT 1997 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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There is much talk today about private placement insurance, particularly private placement variable life (PPVL). There also seems to be a great deal of confusion about what private placement means.
When analyzing variable contracts for compliance, there are three distinct areas of law that must be considered: Insurance, tax and federal securities. We have heard on numerous occasions that if a product is sold as a private placement you need not worry about insurance law or tax law! The purpose of this article is to discuss generally how all three areas are involved in PPVL.
PPVL insurance is first and foremost life insurance. It's considered VL ...