This course explores the income, gift, and estate tax rules for life insurance you should know and addresses key tax planning issues. Provided are useful explanations and tips on this important topic, so you can advise your clients with confidence. Topics include: the income, gift, and estate tax issues surrounding life insurance; the transfer for value rule; opportunities and pitfalls of life insurance trusts; life insurance in cross-purchase and entity buyout agreements; life insurance owned by corporations on partnerships on the owners' lives; taxation of life settlements and policy sales by terminally ill persons; tax-free policy exchanges; and gifts of life insurance policies to charity. Upon completion of this course, you should be able to: Demonstrate a comprehensive basic understanding life insurance and related federal taxation considerations; Plan for using life insurance as an asset in wealth management and estate planning; and Develop estate plans that take advantage of life insurance tax treatment.