Firm Element Understanding 1035 Exchanges

Understanding 1035 Exchanges

25.00 25.00

  • Course Delivery: On Demand
  • Duration: 1 

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The replacement of an annuity or life insurance policy, that is, the exchange of existing policies for new ones purchased from different companies without tax consequences, is called a Section 1035 Exchange. To qualify for the tax advantages of such an exchange, the procedure followed in the exchange must meet the requirements of Section 1035 of the Internal Revenue Code if the transaction is to be tax-free. A 1035 Exchange allows the contract owner to exchange outdated, sometimes costly or inefficient contracts for more current and efficient contracts, while preserving the original policy's tax basis and deferring recognition of gain for federal income tax purposes.

Topics Covered

This course will cover the following topics: Core insurance concepts for licensing exam Life Insurance/ Accident and Health insurance concepts for licensing exam State insurance law regulations for licensing exam



End of Course Instructions

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Quiz Information

You will not be required to pass the quizzes to move on to the next lesson.


You will be required to pass the final exam with a 70% in order to receive course credit.

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