§222. Gross income of life insurance companies
In the case of a life insurance company, the term "gross income" means the gross amount of income received during the taxable year from interest, dividends, and rents.
The term "reserve funds required by law" includes, in the case of assessment insurance, sums actually deposited by any company or association with state or territorial officers pursuant to law as guaranty or reserve funds, and any funds maintained under the charter or articles of incorporation of the company or association exclusively for the payment of claims arising under certificates of membership or policies issued upon the assessment plan and not subject to any other use.