Is the exchange of one insurance policy for another one taxable ?
Answer:
The exchange of one life insurance policy for another one is considered a tax free exchange.
Also an exchange of a annuity contract for another anuity contract with identical recipients is a tax-free exchange.
A endowment policy for another endowment policy that provides for regular payments beginning no later than the date payments would have started under the old policy is considered a tax-free exchange.
Also an exchange of a annuity contract for another anuity contract with identical recipients is a tax-free exchange.
A endowment policy for another endowment policy that provides for regular payments beginning no later than the date payments would have started under the old policy is considered a tax-free exchange.
