Section EZ 58 — Income Tax Act 2007: Expected death strain formula (life): when partial reinsurance exists

EZ 58 Expected death strain formula (life): when partial reinsurance exists When this section applies (1) This section applies when a life insurer has partial life reinsurance. Opening sum assured (2) In using the expected death strain formula (life), the life insurer must reduce opening sum assured by the claim receivable by the life insurer under the life reinsurance policy for the contingency against which the life insured is covered under the life insurance policy. Defined in this Act: claim , life insurance policy , life insured , life insurer , life reinsurance policy , partial reinsurance Section EZ 58: inserted, on 1 July 2010, by section 199(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).