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endowment policy |
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| Panelists discussed the recently published Carnegie Endowment policy brief entitled "Democratic Mirage in the Middle East. UMIFA suggests an endowment policy be defined that would include a total return spending policy and a computation of endowment principal that considers inflation. IRS Letter Ruling 9141025 considered the policyholder's cash withdrawal on an existing endowment policy with a concurrent exchange of the policy's residual interest for a new policy; such a withdrawal would be equivalent to a policy loan and taxable boot. |
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