The Tax Cuts and Jobs Act enacted in late 2017 was more than 500 pages long, with detailed changes affecting everything from the taxation of trusts to the treatment of life insurance
policy acquisition costs.
The Tax Cuts and Jobs Act enacted in late 2017 was more than 500 pages long, with detailed changes affecting everything from the taxation of trusts to the treatment of life
insurance policy acquisition costs.
This field now excludes
deferred policy acquisition costs for insurance firms, which Thomson Reuters does not designate as a current asset.
Policy acquisition costs related to policies written and renewed after December 31, 2011 are being deferred at lower levels than in the past.
Expenses typically take three forms:
policy acquisition, claims adjustment, and operational.
Life insurance companies make
all policy acquisition decisions based on probability tables, statistics, demographic information and other such data.