Keep or replace their old annuity (1035)
Check what moving an old annuity costs, find a new product for 1035 money and read the carrier's rules.
A 1035 exchange moves an annuity into a new one and defers tax on the gain. It only helps if the client comes out ahead, in dollars and in benefits.
Uses credits
You'll learn to
- Measure what the client loses by moving now
- Compare products using 1035 exchange money and a direct transfer
- Apply current replacement rules and required forms