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Beyond Bill Presson’s gracious offer, several BenefitsLink discussions speak to some questions you might have. These include: https://benefitslink.com/boards/index.php?/topic/66061-life-insurance/ https://benefitslink.com/boards/index.php?/topic/68502-prohibited-transaction-purchase-of-life-insurance-from-plan/ https://benefitslink.com/boards/index.php?/topic/67649-rev-rul-74-307/ https://benefitslink.com/boards/index.php?/topic/67772-pte-79-60-commission-for-an-insurance-agentbroker-who-is-the-employer/ Also, some BenefitsLink commenters, including Gary Lesser and Larry Starr, are coauthors of Life Insurance Answer Book: For Qualified Plans and Estate Planning.

I'm not aware the Hacienda has a preapproval process. It is my understanding that any plan intended to qualify under Puerto Rico Code must submit for it's own determination letter.