{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/325/30/#15-scope-and-scope-exceptions","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"325","topic_title":"Investments—Other","subtopic":"325-30","subtopic_title":"Investments in Insurance Contracts","section":{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Entities","paragraphs":[{"citation":"325-30-15-1","para":"15-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in this Subtopic applies to all entities.</div></div>","snippet":"The guidance in this Subtopic applies to all entities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0fe6722d24cb50b4be2ce53b1b66713cccf87e31ab60d81041c62bfbeee180e9","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a06e3f5af871c84a40a06531ecfed4b8beb28326be09735c583ee034d1557232","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}},{"block":null,"heading":"Transactions","paragraphs":[{"citation":"325-30-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_B3DE8229-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The guidance in this Subtopic applies to all transactions for entities purchasing life insurance in which the entity is either the owner or beneficiary of the contract, without regard to the funding objective of the purchase (other than <a href=\"/glossary/l/#life-settlement-contract\" class=\"term\" title=\"A life settlement contract is a contract between the owner of a life insurance policy (the policy owner) and a third-party investor (investor), and has all of the following characteristics: The investor does not have an insurable interest (an interest in the survival of the insured, which is required to support the issuance of an insurance policy). The investor provides consideration to the policy owner of an amount in excess of the current cash surrender value of the life insurance policy. The contract pays the face value of the life insurance policy to an investor when the insured dies.\"><span>life settlement contracts</span></a>). Such purchases would typically include those intended to meet loan covenants or to fund deferred compensation agreements, buy-sell agreements, or postemployment death benefits. </span></span></div></div>","snippet":"The guidance in this Subtopic applies to all transactions for entities purchasing life insurance in which the entity is either the owner or beneficiary of the contract, without regard to the funding objective of the purc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3dc40c48d8b8dd216587145476f260f7235b02eb22190f2e3e5123ff6d6a393f","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}},{"citation":"325-30-15-3","para":"15-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_B3DE832C-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Purchases of life insurance by retirement plans that are subject to Topic <a altsource=\"GUID-E6770400-46A8-4C63-9170-506D498C0464.ditamap\" class=\"ditamap\">960</a> are not within the scope of this Subtopic. </span></span></div></div>","snippet":"Purchases of life insurance by retirement plans that are subject to Topic 960 are not within the scope of this Subtopic.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b84d08eaff6a4f96075449ea8e54ed097577bcdeff3a95dedce45f9ccd0e3282","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}},{"citation":"325-30-15-4","para":"15-4","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_B3DE8403-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Internal Revenue Code Section 1035 exchanges do not constitute a cash surrender. </span></span></div></div>","snippet":"Internal Revenue Code Section 1035 exchanges do not constitute a cash surrender.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5ba21c76b39027da246330e8d82b684f69ca908ccee633bc6eae8e9fe859771d","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b1407760688ad021a2955297cd1daa2a87650d880a006eba13e36c78ba8f3437","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}},{"block":"Life Settlement Contracts","heading":"Entities","paragraphs":[{"citation":"325-30-15-5","para":"15-5","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in the Life Settlement Contracts Subsections applies to all entities.</div></div>","snippet":"The guidance in the Life Settlement Contracts Subsections applies to all entities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4f8b2d890efd9802d0accc7fa5f86f2245d65fe88c82cee171b00c8d6401aad2","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e3db2ea6ece404cf970f0f2240b561083af79a1dffff555b1ba0046bbddfb1eb","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}},{"block":"Life Settlement Contracts","heading":"Transactions","paragraphs":[{"citation":"325-30-15-6","para":"15-6","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_B3E74353-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The guidance in the Life Settlement Contracts Subsections applies to both transactions in which a broker facilitates settlement transactions between the policy owner and the investor, and transactions that do not involve a broker. </span></span></div></div>","snippet":"The guidance in the Life Settlement Contracts Subsections applies to both transactions in which a broker facilitates settlement transactions between the policy owner and the investor, and transactions that do not involve…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5e41b013b812af15e4343b8f67f88d580c116cf0da34b1b2c5eeb85bc4b3f782","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:69cdc4954cb14a1eda9bc06bc3af7743338c40466c8e4c27a63924f2d03fc19f","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3d083d342aff3ab6aa62499f251bd5b8233ebd32096913f279f0c7dcfb64ecfc","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3d083d342aff3ab6aa62499f251bd5b8233ebd32096913f279f0c7dcfb64ecfc","downloaded_from":"2026-09-09T23:43:59.679Z","last_downloaded_at":"2026-09-09T23:43:59.679Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481451","source_sha256":"152cbd6e0ffdecc16410c0f41f2e7071a09beec4d1e43c29aaed400e9fc6a268"}}