Episode description
Episode description
1035 Exchanges, or Rollovers, are an underutilized provision of the Internal Revenue Code which allows owners of annuities or life insurance policies to roll them over on a tax-free basis for brand-new policies with added features and benefits.
Listen in as Ted dives deep into how to take advantage of yet another powerful tool to avoid having to pay a penny more in taxes than you need, and build more wealth all the while!
Offering actual examples of transferring one annuity or life insurance policy for another, Ted demonstrates that a 1035 Tax-Free Exchange is one of the best options out there to help navigate the rising costs of long-term care, even if you’re already at retirement age!
Key Topics:
- Transferring your annuity or life insurance into a new policy (2:24)
- Why you can’t roll an annuity into a life insurance policy (3:37)
- An example of exchanging one annuity for a better one (05:52)
- Benefitting from rolling over an existing deferred annuity at the age of 65 and up (12:10)
- Adding your spouse as a joint insured to the annuity or long-term care policy (15:28)
- An example of exchanging one whole life policy for another with a rider (16:10)
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