planned contractual benefit

Expenses1

1. 740-944Financial Services—Insurance740 Income Taxes

   This Subtopic applies Topic 740's income tax model to insurance entities. Deferred tax liabilities and assets are recognized for temporary differences generally, but a life insurance entity does not provide deferred taxes on taxable temporary differences related to policyholders' surplus arising in fiscal years beginning on or before December 15, 1992 — unless a known or expected reduction in that surplus makes tax payment likely, in which case the attributable tax is accrued currently. Disclosure of unrecognized deferred tax liabilities under the Topic 740 exceptions is required.