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Acquisition costs for insurance contracts that meet the definition of "limited payment contracts" should be accounted for in accordance with the guidance in ASC 944-30-35-17. Deferred acquisition costs on limited-payment contracts are to be amortized in proportion to premium revenue recognized, as required by ASC 944-30-25-1B. Premium revenue used in the calculation shall be the gross premium recorded -- that is, the amount before adjustment for excess of gross over net premiums (the deferred profit liability). ASC 944-30-25-8 through ASC 944-30-25-9 provides additional guidance on specific questions related to acquisition costs on limited payment contracts.

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