Summary: H.R.3734 — 101st Congress (1989-1990)All Information (Except Text)

There is one summary for H.R.3734. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (11/19/1989)

Amends the Internal Revenue Code to provide that payment under a life insurance contract to an insured who is terminally ill be treated as a death benefit, making such payment eligible for tax exclusion from gross income.

Provides that any reference to life insurance shall be treated as referring to a qualified terminal illness rider. Provides for the tax treatment of such riders. Describes such a rider as one which provides for payments to an insured upon the insured's becoming terminally ill.