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- Title
Accounting for the Purchase of Life Settlement Contracts.
- Authors
Reinstein, Alan; Miller, Cathleen L.
- Abstract
The article discusses the accounting for the purchase of life insurance policies. Purchasing life insurance policies from the elderly or terminally ill is becoming an increasingly popular investment tool. The Financial Accounting Standards Board (FASB) issued new authoritative guidance relevant to accountants, financial planners, investors, and insurance professionals. In March 2006, FASB issued Staff Position FTB 85-4-1, Accounting for Life Settlement Contracts by Third-Party Investors.
- Subjects
ACCOUNTING; LIFE insurance policies; TERMINALLY ill; FINANCIAL Accounting Standards Board; ACCOUNTANTS; FINANCIAL planners
- Publication
CPA Journal, 2007, Vol 77, Issue 9, p28
- ISSN
0732-8435
- Publication type
Article