### Question
How is the "life insurance company" defined?


### Answer
The term **life insurance company** is defined in *26 U.S.C. § 816* as follows -

> an insurance company which is engaged in the business of issuing life insurance and annuity contracts (either separately or combined with accident and health insurance), or noncancellable contracts of health and accident insurance, if—



(1) its life insurance reserves (as defined in subsection (b)), plus



(2) unearned premiums, and unpaid losses (whether or not ascertained), on noncancellable life, accident, or health policies not included in life insurance reserves,


  

comprise more than 50 percent of its total reserves (as defined in subsection (c))

#### Citation:
  - *26 U.S.C. § 816*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter L-Insurance Companies > PART I-LIFE INSURANCE COMPANIES > Subpart E-Definitions and Special Rules**

