Series 65: 1035 Exchanges For Variable Life Insurance Contracts

Taken from our Series 65 Online Guide

1035 Exchanges for Variable Life Insurance Contracts

The IRS allows individuals to exchange their variable life insurance contracts with other variable life insurance contracts without suffering any tax consequences. This is called a 1035 Exchange. The individual can even exchange the variable life insurance contract with an annuity under a 1035 Exchange, but the reverse cannot be done.

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