personal benefit contract
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 170 — in this section
For purposes of subparagraph (A), the term “personal benefit contract” means, with respect to the transferor, any life insurance, annuity, or endowment contract if any direct or indirect beneficiary under such contract is the transferor, any member of the transferor's family, or any other person (other than an organization described in subsection (c)) designated by the transferor.