Definition of "Antifreeze"

Tyrone Turner real estate agent

Written by

Tyrone Turnerelite badge icon

T Turner Group

Provision of the 1987 Tax Act that excludes life insurance owned by a third party or an irrevocable trust from federal estate taxes. Life insurance, as well as the deceased's personal residence, was exempted because neither is considered to be an "enterprise" as defined by the Internal Revenue Service (IRS). The IRS defines an enterprise as "any arrangement, relationship, or activity that has significant business or investment aspects."

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Life insurance company that sells life insurance and annuities to the faculty and staff of colleges and universities. Its TIAA-CREF Tax-Sheltered Annuity (TSA) uses a traditional fixed ...

Plan in which a public employer (such as a university, state, county, or municipality) sponsors a retirement savings program, named for the section of the Internal Revenue Code that permits ...

Provision in many property insurance policies that excludes coverage for floods and backup from sewers or drains and underground water. Because floods and hurricanes are generally confined ...

Factors influencing the amount of life insurance to purchase, such as marketable skills of spouse, age of children, savings, investments, number of future working years' expectancy, amount ...

Professional designation earned after the successful completion of three national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as ...

Same as term Extended Coverage Endorsement: added to an insurance policy or a clause found in an insurance policy that will provide additional coverage for risks to be insured other than ...

Legislation passed in 1988 by the U.S. Congress to facilitate movement of checks through the collection system. As the result of this Act, the Federal Reserve has established rules for the ...

Any of a number of types of surety bonds that the law requires of government contractors, licensed businesses, litigants, fiduciaries, government officials, and others whose performance of ...

Size of the losses used as a factor in calculating premium rates. For example, the U.S. Bureau of Labor Statistics studies the number of days lost by injured employees per million ...

Popular Insurance Questions