Life's Trade-Ins
Bloomberg Wealth Manager (02/01/02) p.16; Rowland, Mary

Financial experts say people should look into a 1035 exchange before they dump an underperforming variable life insurance policy. Experts like insurance consultant Glenn Daily say converting a Section 1035 exchange into a no-load, low-cost annuity is an excellent way to preserve the cost basis, which he says people can use as a tax shelter going forward. He adds that a 1035 exchange is also a good tool that allows investors to grow money tax free.


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