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January 28, 2021
Life Essentials

Important Impacts to Life Insurance Tax Limits:
The Consolidated Appropriations Act of 2021

On December 27, 2020, the Consolidated Appropriations Act of 2021 (CAA) was signed into law. The CAA impacts the interest rates used for Definition of Life Insurance (DOLI) testing under Section 7702 of the Internal Revenue Code of 1986, as amended (Code) and Modified Endowment Contract (MEC) testing under Section 7702A of the Code. These industry-wide changes affect all life insurance carriers and went into effect on newly issued policies beginning January 1, 2021.

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Life insurance is issued by The Prudential Insurance Company of America, Pruco Life Insurance Company (except in NY), and Pruco Life Insurance Company of New Jersey (in NY). Variable universal life policies are offered by Pruco Securities, LLC. All are Prudential Financial companies located at 213 Washington Street, Newark, NJ.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any clients or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing clients’ retirement savings. Clients seeking information regarding their particular investment needs should contact a financial professional.

FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR USE WITH CONSUMERS.
© 2021 Prudential Financial, Inc. and its related entities.
1011225-00005-00  Ed. 05/2020  Exp. 04/01/2022