• Question
  • Consider Policy Exchange if Looking at a Life Settlement on Your Life Insurance

    Asked on 2/28/2007

    A policy exchange is something the IRS allows under IRS Code Section 1035. It enables someone to avoid income taxes that might have to be paid when you sell a life insurance policy in a life settlement when you are trying to upgrade your life insurance policy.

    Basically you trade in your old life insurance policy for a new one that better meets your needs instead of selling the old policy then buying a new one...

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  • Categories: Retirement Assets and Savings, Life Insurance

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