Section 7702 of the Internal Revenue Code (IRC) determines when life insurance proceeds can and cannot be taxed. Before purchasing a policy, it’s important to understand how the 7702 rules work.

Section 7702 of the Internal Revenue Code defines the guidelines for cash value life insurance policies and how to retain tax-advantaged status. Section 7702 "plans" are not really plans at all.

Section 7702 of the Internal Revenue Code (IRC) determines when life insurance proceeds can and cannot be taxed. Before purchasing a policy, it’s important to understand how the 7702 rules work.

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