VIDEO: Understanding the 1035 Exchange: How to Switch Your Life Insurance or Annuity Potentially Tax-Free!
by Leah Woodly
If you have a life insurance policy or annuity that no longer meets your needs, a 1035 exchange could be a tax-efficient way to upgrade to a different policy—possibly without triggering taxes!
In this video, we break down:
- What a 1035 exchange is
- What types of policies can be exchanged
- Why you might consider using a 1035 exchange
- Important rules and considerations before making a switch
- Real-life examples to help you decide if it’s right for you
This material is intended for educational purposes only. You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. Nothing in this material constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. Dorval & Chorne Financial Advisors is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.