Life Insurance Policy Exchanges - 1035 Exchanging Essentials
2.8 هزار بار بازدید -
12 سال پیش
-
EduTrainer Steve Savant coaches you
EduTrainer Steve Savant coaches you through the different tax-free 1035 policy exchange options. Edutrainment Workshops: The Essentials for Life Insurance - 1035 Exchanges
Life policies must be on the life of same person. Annuity contracts must be payable to the same person(s). When contracts are assignable, there should be a direct transfer of funds between insurance companies.
The cost basis of the old policy (including certain riders and/or rating) is carried over to the new policy. If cash or other property is part of the exchange, any gain will be recognized up to that amount. A permanent policy with an outstanding loan can be exchanged for another similar policy with the same indebtedness. If the indebtedness is reduced in the exchange, there will be income tax consequences.
If there is a recognized gain, it is ordinary income.
Life Insurance Basic Entry Manual: Order- [email protected]
Download Lincoln Benefit Life's user friendly proposal software and follow Steve Savant as he teaches the basic concepts of life insurance at www.lblsales.com/etw EduTrainment workshops is sponsored by Lincoln Benefit Life, An Allstate Company
Life policies must be on the life of same person. Annuity contracts must be payable to the same person(s). When contracts are assignable, there should be a direct transfer of funds between insurance companies.
The cost basis of the old policy (including certain riders and/or rating) is carried over to the new policy. If cash or other property is part of the exchange, any gain will be recognized up to that amount. A permanent policy with an outstanding loan can be exchanged for another similar policy with the same indebtedness. If the indebtedness is reduced in the exchange, there will be income tax consequences.
If there is a recognized gain, it is ordinary income.
Life Insurance Basic Entry Manual: Order- [email protected]
Download Lincoln Benefit Life's user friendly proposal software and follow Steve Savant as he teaches the basic concepts of life insurance at www.lblsales.com/etw EduTrainment workshops is sponsored by Lincoln Benefit Life, An Allstate Company
12 سال پیش
در تاریخ 1391/03/08 منتشر شده
است.
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