1035 Exchange

Business, Legal & Accounting Glossary

Definition: 1035 Exchange


1035 Exchange

Quick Summary of 1035 Exchange


A tax-sheltered exchange of cash value from one life insurance policy to another. This allows an individual to avoid capital gains or losses in the first policy as long as the second policy is of greater or equal cost.




Full Definition of 1035 Exchange


Is a transaction that permits the exchange of a life insurance contract for another insurance contract or annuity. It can be with the same or different company. It is important to research the specifics because some of the product exchanges only work one way. For example, an annuity can not be exchanged for a life policy.


Examples of 1035 Exchange in a sentence


The 1035 exchange was interesting to check out and I wondered what it would mean for the business we were in.

I’ve decided to consolidate my policies and utilize a 1035 exchange as laid out in all of my paperwork which was given to me by my agent.

Because my mother did not want to pay increased taxes, but also realized the competitor’s life insurance policy was superior, she went through a 1035 exchange to shift her policy over to them.


Related Phrases


American stock exchange
Bill of exchange
Chicago mercantile exchange
Commodities exchange center
Exchange
Exchange controls
Exchange for physicals
Exchange of assets
Exchange of stock
Exchange offer
Exchange rate
Exchange rate mechanism
Exchange rate risk
Exchange rate risk capital budgeting
Exchange risk
Exchange traded fund
Expectations theory of forward exchange rates
Fixed exchange rate
Floating exchange rate
Foreign exchange
Foreign exchange controls
Foreign exchange dealer
Foreign exchange fx risk
Foreign exchange manager
Foreign exchange rate
Foreign exchange risk
Foreign exchange swap
Forward exchange rate
Gold exchange standard
Historical exchange rate
London international financial futures exchange
Membership or a seat on the exchange
New york stock exchange
Nominal exchange rate
Organized exchange
Philadelphia stock exchange
Ratio of exchange
Ratio of exchange in market price
Real exchange rates
Securities and exchange commission
Securities and exchange commission sec
Securities exchange act of 1934
Simex singapore international monetary exchange
Spot exchange rate
Stock exchange
The exchange


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, from PayrollHeaven.com website: https://payrollheaven.com/define/1035-exchange/

Definition Sources


Definitions for 1035 Exchange are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th November, 2021 | 2 Views.