### Question
Can you define what life insurance contract means?


### Answer
**Life insurance contract** is defined as the following in *26 U.S.C. § 7702*:

> any contract which is a life insurance contract under the applicable law, but only if such contract—



(1) meets the cash value accumulation test of subsection (b), or




(2)(A) meets the guideline premium requirements of subsection (c), and



(B) falls within the cash value corridor of subsection (d)

#### Citation:
  - *26 U.S.C. § 7702*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 79-DEFINITIONS**

