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Cover Story: Taxing Prosperity
By Jeffrey R. Kosnett, LAN Editor
It's not literally a turning point, because the 1990s went one way for sellers and manufacturers of variable annuities—straight ahead. But when word emerged last summer that lobbyists for the annuity and life insurance industries would not only defend the tax-deferred compounding of VA assets but seek capital gains status for at least part of accumulated earnings when drawn as income, the news seemed like a fitting cap to the decade. Only an established force mounts an offensive.
Feature Story: Bugged!
by Edward Staples, LAN Senior Editor
The overall Y2K problem also arises from the fact that millions of computers as well as software languages and microchips in many computers, not to mention many of those microchip devices, were originally designed to read only the last two digits of a year and to assume the first two digits would be 1 and 9. On Jan. 1, 2000, computers and electronic devices with unchecked and unrepaired hardware or software will read 00 not as 2000 but as 1900 and, potentially, will either shut down or quit working properly.
The Cost of Doing Business: Who Needs It?
By Edward W. Ramsell, CLU
"Sure you would. Look, pretend you're me." We both hesitated at the thought. "I come to you and say I want you to give me a ton of money, right now, because I'm going to die next week. I also say I want to pay you 1 percent for your money, with no chance that you will ever get any of it back. What would you say?"
Digital Agent: What Child is This?
By Chris W. Kite
When parents or other benefactors have enough assets to give to children, life insurance can be an effective accumulation vehicle. It can provide an investment alternative besides its protection elements. Loads and charges may hinder its ability to fund college costs, but policies can be priced to achieve a quicker return. These policies can also include options to add more insurance and develop significant cash value after the child graduates and becomes a working adult.
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