FACTOID # 13: New York has America's lowest percentage of residents who are veterans.
 
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Encyclopedia > 1035
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Annuities Online - Annuity Quotes (382 words)
1035 refers to a provision in the tax code which allows for the direct transfer of accumulated funds in a life insurance policy, endowment policy, annuity policy to another life insurance policy, endowment policy or annuity contract without creating a taxable event.
Robert would fill out a 1035 Exchange form which would direct the life insurance company to "cash in" his policy and send the $45,000 directly to the company which is issuing his annuity policy.
1035 exchange are used with annuity or variable annuity contracts in the same way to transfer the funds of one annuity to that of an annuity paying a higher rate of interest.
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