NU Online News Service, Feb. 17, 2004, 1:39 p.m. EST – InsMark Inc., San Ramon, Calif., has updated references to split-dollar life insurance in its life insurance proposal and illustration software.[@@]
The company has revised the InsMark Illustration System to incorporate the final U.S. Treasury Department split-dollar life regulations that were issued in September 2003.
The revised sections deal with topics such as employer-sponsored endorsement split-dollar coverage, employer-sponsored split-dollar coverage with salary continuation provisions and private, limited collateral assignment split dollar coverage.
InsMark notes that it has removed all equity split-dollar illustration modules from the illustration system but added corporate-owned life insurance modules.
First-time buyers must pay $699 for the revised version of the illustration system, but system users who subscribe to InsMark’s maintenance program will get the updated version without having to pay an additional charge.