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EY 8: Meaning of life insurance
or “Explanation of what counts as life insurance for tax purposes”
You could also call this:

“What a life insurance policy means and covers”

A life insurance policy is a document that tells you about the life insurance you have. It explains when and how your life is insured. The policy only counts as a life insurance policy for the parts that talk about your life insurance coverage. You can think of it as a special agreement between you and the insurance company that says how they will protect you and your family if something happens to you.

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Next up: EY 10: Meaning of life insurer

or “Definition of who is considered a life insurer under tax law”
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Part E Timing and quantifying rules
Life insurance rules

EY 9Meaning of life insurance policy

  1. Life insurance policy means a policy to the extent to which it states the terms under which life insurance is covered.

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