Document 0653
 DOCN  M95A0653
 TI    Viatical settlement tax reform: Republicans support relief, Democrats
       divided. 
 DT    9510
 AU    James JS; Roehr B
 SO    AIDS Treat News. 1995 Mar 3;(no 218):7-8. Unique Identifier : AIDSLINE
       AIDS/95700355
 AB    Congress is considering the tax exempt status on money received from a
       life insurance policy before death of a person with a short life
       expectancy due to illness. Tax exempt status is being considered for
       both accelerated benefits and viatical settlement. Accelerated benefits
       allows for pre-payment in advance of death. A viatical settlement is the
       purchase of an insurance policy by third parties with the condition of
       their becoming the irrevocable beneficiary of the policy being
       purchased. While House Republicans on the House Ways and Means Committee
       are generally supportive of not taxing viatical settlements, Democrats
       are divided. Letters to Congress are needed, especially to House Ways
       and Means Democrats from voters in their districts and states to
       encourage their support of the reform bill (HR 8, the Senior Citizens'
       Equity Act) which includes tax relief for both accelerated benefits and
       viatical settlements. More information can be obtained by calling Gary
       Rose, National Association of People with AIDS, (202) 898-0414, or Tom
       McCormack, Affording Care, (202) 479-2543.
 DE    Insurance, Life/*LEGISLATION & JURISPRUD  *Politics  *Taxes  NEWSLETTER
       ARTICLE

       SOURCE: National Library of Medicine.  NOTICE: This material may be
       protected by Copyright Law (Title 17, U.S.Code).