QUESTION:

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

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...
asked by Janet, 2/28/2007
Categories: Life Insurance
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