This page is the citation register for ppli.si. Every number and every statement of law on the site should be traceable here to an issuing body, a title, a date and a link, and back to the pages that use it. Sources are grouped by jurisdiction, followed by international material and secondary reporting.
How to read the table. Date is the publication, revision or "last updated" date shown by the source itself; where a page carries no date, the date we viewed it is given. Used on lists the ppli.si pages that rely on the source ("home" means the homepage figures). Status: Verified means the original text was read; Secondary means the fact comes from press, a law firm or a promotion body and is labelled as such on the page; Recheck means the original could not be retrieved at the last check, so pages describe the mechanism rather than quote figures from it. "Verified by the page author" marks official sources added by the author of an individual page. Statutes and regulator pages are amended over time; the issuing body's current version always prevails.
Singapore
| Publisher | Title and point relied on | Date | Link | Used on | Status |
|---|---|---|---|---|---|
| Singapore Statutes Online (AGC) | Securities and Futures Act 2001, s4A — individual accredited investor: net personal assets over S$2 million (primary residence counted up to S$1 million), net financial assets over S$1 million, or income of at least S$300,000 in the past 12 months; express opt-in; corporate AI S$10 million net assets | Current version, viewed 2026-10-22 | sso.agc.gov.sg | overview, singapore, scenarios, process, faq | Verified |
| MAS | Written reply to parliamentary question on the review of investor definitions under the SFA — institutions should still consider suitability for accredited investors | 2025-02-05 | mas.gov.sg | singapore, process | Verified |
| MAS | Guidelines on Fair Dealing (FSG-G04) — board and senior management responsibilities for fair dealing outcomes | 2024-05-30 | mas.gov.sg | singapore | Verified |
| MAS | Notice 307 Investment-Linked Policies — disclosure, investment guidelines, borrowing limits; last revised 2021-06-28, effective 2021-07-01 | 2021-06-28 | mas.gov.sg | singapore, carriers-and-custody | Verified |
| MAS | Offers of Collective Investment Schemes — restricted schemes offered only to relevant persons under s305(5) SFA or at a minimum of S$200,000 per transaction | Updated 2026-10-05 | mas.gov.sg | singapore | Verified |
| MoneySense (MAS) | Interpreting your insurance documents — 14-day free-look period granted by all life insurers (industry practice) | Updated 2026-05-11 | moneysense.gov.sg | singapore, process | Verified |
| SDIC | PPF Entitlement — S$500,000 cap on aggregated guaranteed sum assured, S$100,000 on aggregated guaranteed surrender value per life assured per insurer; investment-linked policies with benefits directly tied to underlying net assets not covered | Viewed 2026-10-24 | sdic.org.sg | misconceptions, compare, singapore, asset-protection, scenarios, faq, zh-overview | Verified |
| Singapore Statutes Online (AGC) | Insurance Act 1966, current version as at 24 Oct 2026 — s16 Establishment of insurance funds and allocation of surplus; s123 Priority of claims of policy owners and specified liabilities | Viewed 2026-10-24 | sso.agc.gov.sg | overview, compare, singapore, asset-protection, carriers-and-custody, faq, zh-overview | Verified (section headings; full section text not retrieved on 2026-10-24) |
| LIA Singapore | Your Guide to Nomination of Insurance Nominees (Mar 2026 v1.0) — nomination conditions; creditor position under trust nominations | 2026-03 | lia.org.sg (PDF) | singapore, asset-protection | Verified |
| LIA Singapore | Guidelines on Policy Illustrations; enhancements to ILP illustrations (8% / 4% / 0% columns) | 2024-06-07; ILP annex revised 2026-07-28 | lia.org.sg | singapore | Verified |
| IRAS | Estate Duty — removed for deaths on and after 15 February 2008 | Updated 2026-03-09 | iras.gov.sg | singapore | Verified |
| IRAS | Gains from sale of property, shares and financial instruments — generally not taxable unless trading in nature | Updated 2026-02-27 | iras.gov.sg | singapore | Verified |
| IRAS | CRS Overview and Latest Developments — exchanges since September 2018; Amended CRS from 1 January 2027; exchanges under it expected in 2028 | Last updated 2026-09-09 (re-read 2026-10-24) | iras.gov.sg | overview, misconceptions, singapore, tax-compliance, process, faq, glossary, zh-overview, zh-faq | Verified |
| IRAS | e-Tax Guide: Common Reporting Standard (Fifth Edition) — specified insurance company; cash value definition; no de minimis threshold for pre-existing individual accounts, including cash value insurance contracts; US$250,000 threshold for pre-existing entity accounts; FATCA's US$250,000 review threshold for pre-existing cash value contracts | 2026-08-11 | iras.gov.sg (PDF) | overview, misconceptions, compare, singapore, tax-compliance, faq, glossary, zh-overview, zh-faq | Verified |
| IRAS | FATCA Overview and Latest Developments — 2018 reciprocal Model 1 IGA; FATCA Regulations 2020 incorporating it entered into force on 1 January 2021; annual returns by 31 May | Last updated 2026-08-11 (re-read 2026-10-24) | iras.gov.sg | compare, singapore, tax-compliance, faq | Verified |
| IRAS | List of Participating Jurisdictions (effective from 2 February 2026), linked from CRS Overview and Latest Developments — includes Bermuda, Cayman Islands, Ireland, Liechtenstein and Luxembourg | 2026-02-02 (read 2026-10-24) | iras.gov.sg (PDF) | compare | Verified |
| MAS | Singapore Asset Management Survey 2025 — AUM grew by 10% to S$6.7 trillion (US$5.2 trillion); 76% sourced from outside Singapore | 2026-07 | mas.gov.sg | singapore, home | Verified |
Luxembourg
| Publisher | Title and point relied on | Date | Link | Used on | Status |
|---|---|---|---|---|---|
| ACA (Luxembourg insurance and reinsurance association) | Q&A: The Luxembourg Triangle of Security and the law of 10 August 2018 — segregation of assets, CAA-approved custody agreement, policyholder priority; "not a guarantee by the Luxembourg State"; unit-linked contracts guarantee units, not value; proportional reduction; custodian insolvency not addressed; priority "since the 1991 European Directive" (the EU winding-up directive for insurers is Directive 2001/17/EC, so the dating is flagged on the page) | 2019-02-25 | aca.lu (PDF) | overview, misconceptions, compare, luxembourg, asset-protection, carriers-and-custody, process, faq, glossary, zh-overview, zh-faq | Verified |
| Legilux – Journal officiel du Grand-Duché de Luxembourg | Law of 10 August 2018 amending the insurance sector law on the winding-up of insurance undertakings (policyholder priority clarified) | 2018-08-10 | legilux.public.lu | luxembourg | Verified by the page author |
| CMS Luxembourg (summarising CAA) | New investment rules for Luxembourg unit-linked life insurance products taken out after 1 February 2026 — Circular Letter 26/1 published 2026-01-28; Circular Letter 15/3 continues for earlier policies; internal collective funds for classes A–D without prior notification; Circular Letter 26/2 amends Circular Letter 16/9 on the deposit of assets | 2026-02-09 | cms.law | compare, luxembourg, investment-flexibility, home | Secondary |
| Loyens & Loeff | Unit-linked life insurance investment rules: same framework, new lens — investor classes and external-fund criteria largely retained | 2026-03-02 (viewed 2026-10-24) | loyensloeff.com | luxembourg, investment-flexibility | Secondary |
| Luxembourg for Finance | Life Insurance: The Preferred Hub for Wealth Planning and Asset Protection — external funds, internal collective funds (FIC), dedicated internal funds (FID), specialised insurance funds (FAS) | Undated (viewed 2026-10-24) | lff.foleon.com | luxembourg, investment-flexibility | Secondary |
Liechtenstein
| Publisher | Title and point relied on | Date | Link | Used on | Status |
|---|---|---|---|---|---|
| Liechtensteinisches Landesgesetzblatt | LGBl. 2020 Nr. 395, amendment of the Insurance Contract Act (VersVG) — Art. 77 (lapse of designation on attachment or bankruptcy), Art. 79 (entry of spouse, registered partner or descendants), Art. 81 (buy-out against surrender value) | 2020-12-04 | gesetze.li (PDF) | misconceptions, compare, liechtenstein-ireland, asset-protection, faq, glossary, zh-overview, zh-faq | Verified |
| Legal500 (Ospelt & Partner) | Insurance & Reinsurance – Liechtenstein — FMA licensing; Solvency II; EEA passporting; no specific policyholder protection scheme; minimum capital for life insurers | 2026-04 | legal500.com | compare, liechtenstein-ireland, asset-protection, carriers-and-custody, scenarios | Secondary |
| FMA Liechtenstein | Financial center figures presented — insurance premium income CHF 4.90 billion in 2025 (whole sector); solvency ratio 189% | 2026-05-22 | fma-li.li | liechtenstein-ireland, carriers-and-custody, zh-overview, home | Verified |
Ireland
| Publisher | Title and point relied on | Date | Link | Used on | Status |
|---|---|---|---|---|---|
| Chartered Accountants Ireland TaxSource (Irish legislation) | Taxes Consolidation Act 1997, s730BA — definition of personal portfolio life policy | Current version, viewed 2026-10-24 | charteredaccountants.ie | misconceptions, liechtenstein-ireland, investment-flexibility, tax-compliance, glossary | Verified |
| Central Bank of Ireland | Insurance & Reinsurance — supervisory scope for Irish insurers | Viewed 2026-10-24 | centralbank.ie | liechtenstein-ireland | Verified by the page author |
| Irish Revenue | Life assurance – Exit Tax — 25% for companies; 8-year deemed disposal; individual rate 41% before 2026 (the page, still dated 18 December 2025, describes the move to 38%) | Published 2025-12-18 (re-read 2026-10-24) | revenue.ie | liechtenstein-ireland, tax-compliance | Verified |
| Irish Revenue (via TaxSource) | Revenue Note for Guidance, s730K — 38% for foreign life policy gains from 1 January 2026, previously 41%; PPLP 60%; 80% where not correctly returned | Finance Act 2025 version | charteredaccountants.ie | compare, liechtenstein-ireland, investment-flexibility, tax-compliance | Verified |
Bermuda
| Publisher | Title and point relied on | Date | Link | Used on | Status |
|---|---|---|---|---|---|
| Bermuda Laws Online | Segregated Accounts Companies Act 2000 — definition of segregated account (s.2); liabilities attributable to an account reach only its assets, with no recourse to other accounts or the general account (s.17, incl. s.17(5)); deemed non-recourse term in linked contracts (s.11(4)) | Consolidated to 2021-11 | bermudalaws.bm | compare, bermuda-cayman, asset-protection, carriers-and-custody, faq, glossary, zh-overview, zh-faq | Verified |
| Bermuda Laws Online | Insurance Act 1978 — long-term business; Class C, D and E by total assets excluding long-term segregated account assets | Consolidated to 2022-12 | bermudalaws.bm | compare, bermuda-cayman, asset-protection, carriers-and-custody | Verified |
| Bermuda Monetary Authority | Insurance Registration Statistics – September 2026 — Sun Life Bermuda Limited registered as Class C on 2026-09-24; 42 new insurer registrations of all classes in 2026 to date | 2026-10-19 | bma.bm (PDF) | bermuda-cayman, carriers-and-custody | Verified |
Cayman Islands
| Publisher | Title and point relied on | Date | Link | Used on | Status |
|---|---|---|---|---|---|
| Cayman Islands Monetary Authority (CIMA) | Insurance FAQs — Insurance Act 2010 as amended; Class B sub-divided into B(i), B(ii), B(iii) by the related business a captive writes, each with its own minimum capital range; segregated portfolio companies may incorporate segregated portfolios | Undated (viewed 2026-10-24) | cima.ky | compare, bermuda-cayman, carriers-and-custody | Verified (long-term licence conditions not covered) |
United States
| Publisher | Title and point relied on | Date | Link | Used on | Status |
|---|---|---|---|---|---|
| Internal Revenue Service | Revenue Ruling 2003-91 — holder may allocate among up to 20 broad sub-accounts but "cannot select or recommend particular investments or investment strategies"; holder not treated as owner | 2003-07 (text re-read 2026-10-24) | irs.gov (PDF) | overview, misconceptions, us-domestic-ppli, process, faq, zh-overview, zh-faq | Verified |
| Internal Revenue Service | Revenue Ruling 2003-92, Internal Revenue Bulletin 2003-33 — publicly available partnership interests treated as owned by the holder | 2003-08-18 | irs.gov | us-domestic-ppli, investment-flexibility | Verified |
| Cornell LII (US Code) | 26 U.S. Code § 7702 — CVAT, GPT and cash value corridor; post-2020 interest-rate changes (Pub. L. 116-260) | Viewed 2026-10-24 | law.cornell.edu | overview, us-domestic-ppli, tax-compliance, scenarios, process, faq, glossary, zh-overview | Verified |
| Cornell LII (US Code) | 26 U.S. Code § 7702A — modified endowment contract; 7-pay test | Viewed 2026-10-24 | law.cornell.edu | us-domestic-ppli | Verified |
| Cornell LII (US Code) | 26 U.S. Code § 817 — variable contracts (§817(d)); diversification and look-through (§817(h)) | Viewed 2026-10-24 | law.cornell.edu | us-domestic-ppli, tax-compliance | Verified |
| Cornell LII (CFR) | 26 CFR § 1.817-5 — 55% / 70% / 80% / 90% limits; quarter-end test with 30-day cure; look-through conditions in (f) | Viewed 2026-10-24 | law.cornell.edu | misconceptions, compare, us-domestic-ppli, investment-flexibility, process, faq | Verified |
| Cornell LII (US Code) | 26 U.S. Code § 953(d) — election by a foreign insurer to be treated as a domestic corporation "for purposes of this title" | Viewed 2026-10-24 | law.cornell.edu | bermuda-cayman, us-domestic-ppli, scenarios | Verified |
| Cornell LII (US Code) | 26 U.S. Code § 101(a) — exclusion of death benefits from gross income, subject to the transfer-for-value exception | Viewed 2026-10-24 | law.cornell.edu | overview, compare, us-domestic-ppli, tax-compliance, faq, glossary, zh-faq | Verified |
| Cornell LII (CFR) | 26 CFR § 1.1471-5 — specified insurance company; cash value insurance contract above US$50,000, threshold electable | Viewed 2026-10-24 | law.cornell.edu | misconceptions, tax-compliance, faq, zh-overview, zh-faq | Verified |
| U.S. Department of the Treasury | Foreign Account Tax Compliance Act — intergovernmental agreements list | Viewed 2026-10-24 | home.treasury.gov | compare | Verified by the page author |
| Internal Revenue Service | Form 720 (Rev. June 2026) and Instructions — IRS No. 30, US$0.01 per dollar of premium paid to foreign insurers; §6114 disclosure for treaty claims | 2026-06 | Form · Instructions | bermuda-cayman, tax-compliance, scenarios | Verified |
| Internal Revenue Service; FinCEN | Report of Foreign Bank and Financial Accounts (FBAR) — aggregate foreign accounts over US$10,000; insurance policy with cash value is a financial account (FinCEN Form 114 instructions, 2017-01) | Updated 2026-07-30 | irs.gov | tax-compliance, scenarios, process | Verified |
| Internal Revenue Service | Some Nonresidents with U.S. Assets Must File Estate Tax Returns — life insurance proceeds on a nonresident non-citizen treated as non-US property; Form 706-NA above US$60,000 of US-situs assets | Updated 2026-06-27 | irs.gov | us-domestic-ppli, tax-compliance, faq | Verified |
| U.S. Securities and Exchange Commission | Accredited investors — net worth over US$1 million excluding primary residence; income over US$200,000 / US$300,000; Series 7, 65, 82; entities over US$5 million | Published 2024-06-12; updated 2026-04-24 (re-read 2026-10-24) | sec.gov | us-domestic-ppli, process | Verified |
| Cornell LII (US Code) | 15 U.S. Code § 80a-2(a)(51) — qualified purchaser: US$5 million in investments (individual); US$25 million on a discretionary basis | Viewed 2026-10-24 | law.cornell.edu | us-domestic-ppli, process | Verified |
| FINRA (formerly NASD) | Notice to Members 00-44 — variable life policies are securities because policyholders assume investment risk | 2000-06-16 | finra.org | overview, us-domestic-ppli | Verified |
| U.S. Senate Committee on Finance (majority staff) | Private Placement Life Insurance: A Tax Shelter for the Ultra-Wealthy — figures cited on this site only as reported by the press | 2024-02-21 | finance.senate.gov (PDF) | overview, us-domestic-ppli | Recheck (original not retrieved; see press below) |
International (OECD)
| Publisher | Title and point relied on | Date | Link | Used on | Status |
|---|---|---|---|---|---|
| OECD | Model Mandatory Disclosure Rules for CRS Avoidance Arrangements and Opaque Offshore Structures — disclosure by promoters and service providers; not insurance-specific | 2018-03-09 | oecd.org | misconceptions, tax-compliance | Secondary (content from summaries; OECD page returned HTTP 403 on 2026-10-24; labelled secondary in page front matter) |
| European Union | Directive 2009/138/EC (Solvency II), Art. 275 — ranking of insurance claims in a winding-up: precedence over the assets covering technical provisions, or over the insurer's assets generally, as each member state chooses | 2009-11-25 | — | compare | Cited by article number; EUR-Lex text not retrievable by this site on 2026-10-24 — Recheck |
Secondary and press
| Publisher | Title and point relied on | Date | Link | Used on | Status |
|---|---|---|---|---|---|
| Accounting Today | Senate probes $40B tax shelter in private placement life insurance — data from seven carriers; about 3,000 US holders; policies totalling at least US$40 billion; calls for legislation and IRS scrutiny | 2024-02-21 (read 2026-10-24) | accountingtoday.com | overview, us-domestic-ppli | Secondary |
| WealthManagement.com | U.S. Tax Court Issues Decision on Investor Control Over Variable Life Insurance Policy Assets — facts and holding of Webber v. Commissioner, 144 T.C. No. 17 (2015-06-30); penalty not imposed due to reliance on counsel; describes the policies only as non-US, so pages do not name the carrier's domicile (the Tax Court opinion itself was not retrieved) | 2015-07-13 (read 2026-10-24) | wealthmanagement.com | us-domestic-ppli, faq | Secondary |
| WealthBriefing | Utmost Group Completes Lombard International Integration — renamed Utmost Luxembourg; £107.1 billion (US$139.5 billion) AUA and about 200,000 clients as of 30 June 2025 | 2025-11-06 (read 2026-10-24) | wealthbriefing.com | carriers-and-custody | Secondary |
Items not cited as figures
Some facts could not be confirmed from an original source at the last check. Pages describe the mechanism and refer readers to the issuing body instead of quoting numbers:
| Item | Why it is not quoted | Where to check |
|---|---|---|
| Luxembourg policyholder classes (N, A–D) and their asset thresholds under CAA Circular Letter 26/1 | Circular text not reviewed; only law-firm summaries | Commissariat aux Assurances (caa.lu) |
| Cayman licensing conditions for long-term (life) business | Not covered by CIMA's FAQ page | CIMA legislation library |
| Bermuda minimum solvency margins by class | The BMA licensing-requirements page (bma.bm/insurance-licensing-requirements) returned "not found" on 2026-10-24, and the Insurance Act 1978 text confirms only the asset thresholds | BMA rules and current BMA guidance |
| Full text of Singapore Insurance Act 1966 ss.16 and 123 | Singapore Statutes Online returned the section headings but not the section text to this site on 2026-10-24 | sso.agc.gov.sg |
| Domicile of the carrier in Webber v. Commissioner | The Tax Court opinion was not retrieved; the press report used describes the policies only as non-US | US Tax Court opinion, 144 T.C. No. 17 |
| Liechtenstein limitation periods for challenging beneficiary designations | Secondary and inferential material only | Liechtenstein counsel; gesetze.li |
| Number of Bermuda long-term insurers by class; Luxembourg and Irish cross-border life premium statistics | No original source retrieved | BMA annual report; aca.lu; centralbank.ie |
| US state-level rules on private placement variable products; size of the insurance-dedicated fund market | No primary source; varies by state | State insurance codes and carrier filings |
If you spot a source that has been updated or superseded, please let us know through the contact options on this site so the affected pages can be revised.
Sources and dates
- Q&A: The Luxembourg Triangle of Security and the law of 10 August 2018 — ACA (Luxembourg insurance and reinsurance association) · 2019-02-25
- Segregated Accounts Companies Act 2000 (consolidated) — Bermuda Laws Online · 2021-11
- 26 U.S. Code § 7702 – Life insurance contract defined — Cornell Legal Information Institute (US Code) · 2026-10-24
- CRS Overview and Latest Developments — Inland Revenue Authority of Singapore (IRAS) · 2026-09-09
- Taxes Consolidation Act 1997, s730BA Personal portfolio life policy — Chartered Accountants Ireland TaxSource (reproducing Irish legislation) · 2026-10-24
- LGBl. 2020 Nr. 395 – amendment of the Insurance Contract Act (VersVG) — Liechtensteinisches Landesgesetzblatt · 2020-12-04