Exchange (1035)

By |2013-09-23T16:14:34+00:00September 23rd, 2013|

A 1035 exchange is an exchange of one nonqualified annuity contract for another. Internal Revenue Code (IRC) Section 1035 generally allows individuals to exchange life, endowment, or annuity contracts for similar contracts that are better suited to their needs, if eligibility requirements are met. For a 1035 exchange, the annuity contract owner and the insured or annuitant combination on the old and new contract must be the same.

 

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Bill Broich is a well-known annuity expert with over 30 years of experience. He has written hundreds of articles on annuities and other financial topics, and has been a featured commentator on TV, Radio and the Internet.

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