Jeremy Vidmar, FIC, CLTC, Regional Vice President, and Greg Spaeth, Chief Strategic Initiatives Officer at E4IS, provided a clear overview of IRS Section 7702, emphasizing its crucial role in defining which life insurance policies qualify for favorable tax treatment. Learn why Section 7702 was enacted, its key legal requirements, and how it prevents misuse of life insurance for tax shelter purposes. They highlighted both the client-facing advantages—like tax-free growth, tax-free loans, and income-tax-free death benefits—and the strategic opportunities it creates for advisors. Also, they covered best practices for ensuring compliance, maximizing tax benefits, and fostering long-term client relationships through ongoing policy management and collaboration with tax professionals.
