In this video interview, Ben Rainey and Aidan Elliott met with Josh Caron, Vice President of Federal Affairs with FINSECA. Ben and Aidan ask Josh a few questions about the recent tax news regarding Private Placement Life Insurance. This is a must listen if you own a PPLI policy or are interested in taking advantage of the product’s tax benefits.
- I am current PPLI policy holder and I read about Senator Wyden’s investigation in the news. Should I be worried? Will I have an IRS target on my back and can they disrupt my policy or will it trigger an audit? (Timestamp 2:11)
- I’m a wealth advisor and I recommend PPLI to my clients, but the Senator’s comments have made me somewhat nervous. Should I be worried about recommending this to my clients? (Timestamp 7:29)
- Is PPLI an abusive tax scheme as Senator Wyden described it? (Timestamp 10:33)
- What is the likelihood of congress carving out PPLI from the code and taxing inside build up or forcing distributions? Will PPLI policies be grandfathered? (Timestamp 14:24)