If you want to update a cash-value life insurance policy or annuity, you may have heard of the 1035 exchange. This IRS provision, based on Section 1035(a)(3) of the IRS code, allows you to exchange ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Janet Berry-Johnson is a CPA with 10 years of experience in public accounting and writes ...

With retirement nearing, Steve Parrish no longer needed the whole life policy he’d owned for 25 years. The St. Augustine, Fla.-based attorney and co-director of The American College of Financial ...

A 1035 exchange can let you pay long-term care insurance premiums using a tax-free transfer from an annuity. This technique can save on taxes while providing you with desirable coverage to protect ...

Cashing in an annuity usually produces taxable income. Additionally, if you surrender your annuity before the contract term is up, often there's a surrender charge. But you aren't stuck for years if ...

“Over the last 10 to 15 years, there have been many improvements to both life insurance and annuity products. If you’ve been thinking about swapping your current annuity or insurance policy for a new ...

The right life insurance coverage or annuity policy is key to achieving financial security, but the wrong policy can not only be expensive but also can leave some clients inadequately prepared.

Lindsey Crossmier has been a financial writer since 2022, and has been regularly quoted as an expert in outlets such as U.S. News, GOBanking Rates and Yahoo! Finance. She leverages her Yale financial ...

When advisers consider whether a client should exchange his annuity for a new model, one of the easiest mistakes they can make is to underestimate the real value of the current contract. “An adviser ...

Jackson National Life Insurance Co.'s temporary halt on tax-free exchanges of variable annuities is in effect until Dec. 16 — but it turns out not everyone is subject to the suspension. Advisers with ...