Study Guide - Treatment of Sickness and Injury Plans

The study guide is provided to guide you through the course material in a step by step format.

Tax Treatment of Sickness and Injury Plans is an online course that addresses the tax treatment of plans designed to provide benefits upon the sickness or injury of a taxpayer. It examines the tax treatment of contributions to, and benefits received under, health insurance, health savings accounts (HSAs), Archer medical savings accounts (MSAs), health reimbursement arrangements (HRAs), disability insurance and long-term care insurance

Course material is an online PDF document available immediately upon purchase.

Prerequisite: None

Course level: Basic

Advanced preparation: None

Teaching method: Online study and exam

Chapter 1 - Life Insurance Death Benefits

The learning objectives for this lesson are to gain an understanding of:

  • the nature of life insurance
  • taxation of life insurance policy death benefit proceeds
  • income taxablity of viatical settlement proceeds
  • taxability of accelerated death benefits
  • death benefits received under settlement options

Chapter 2 - Life Insurance Policy Living Proceeds

The learning objectives for this lesson are to gain an understanding of:

  • the definition of life insurance impacts tax-deferred accumuliation
  • taxation of living proceeds of life insurance policies
  • tax-free exchanges under IRC 1035
  • treatment of life settlement proceeds

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