If you want to update a cash-value life insurance policy or annuity, you may have heard of the 1035 exchange. This IRS provision, based on Section 1035(a)(3) of the IRS code, allows you to exchange ...

A section 1035 exchange may provide a higher death benefit and cash surrender values than the original policy, but even if it does improve upon the old policy, it may not be the optimal solution. A ...

If you’re holding an underperforming annuity contract, dealing with sky-high fees or just looking for an annuity that better suits your needs, a 1035 exchange could be your ticket to better terms ...

Cashing in an annuity usually produces taxable income. Additionally, if you surrender your annuity before the contract term is up, often there's a surrender charge. But you aren't stuck for years if ...

As the first boomers turn 65 this year, and 76 million more approach retirement over the next two decades, two critical issues are on the minds of advisors and clients alike: The urgent need to save ...

A 1035 exchange can let you pay long-term care insurance premiums using a tax-free transfer from an annuity. This technique can save on taxes while providing you with desirable coverage to protect ...

With retirement nearing, Steve Parrish no longer needed the whole life policy he’d owned for 25 years. The St. Augustine, Fla.-based attorney and co-director of The American College of Financial ...

Your article was successfully shared with the contacts you provided. Annuity products are one area in which trends in contract features are constantly changing as insurance companies endeavor to more ...