### Question
What does life insurance gross income mean?


### Answer
**Life insurance gross income** has the following meaning in *26 U.S.C. § 803*:

> the sum of the following amounts:



#### (1) Premiums



(A) The gross amount of premiums and other consideration on insurance and annuity contracts, less



(B) return premiums, and premiums and other consideration arising out of indemnity reinsurance

#### Citation:
  - *26 U.S.C. § 803*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter L-Insurance Companies > PART I-LIFE INSURANCE COMPANIES > Subpart B-Life Insurance Gross Income**

