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Article: As bell tolls on death tax, insurer stocks get gong ; Analyst predicts drop in taxable estates.(elimination of inheritance taxes would hinder effort to sell life insurance, forcing insurance company stocks down)(Brief Article)
- Article from:
- Business Insurance
- Article date:
- March 12, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. 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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As proposals gain steam on Capitol Hill to sharply cut the death tax, insurers that sell life policies used in estate tax planning are increasingly feeling the heat.
Earlier this month, Nigel Dally, a life insurance analyst for Morgan Stanley Dean Witter & Co. in New York, issued another sharply worded warning. He said that 94% of previously taxable estates would become exempt from taxes under the higher eligibility limits now under discussion in Washington.
``Bottom line,'' wrote Mr. Dally, ``a large portion of the estate tax planning operations of life insurers looks likely to be eliminated.''
stocks drubbed
Concern about the ...