Can I exchange a policy with a loan balance..extinguish the loan and get another policy without paying a tax?
Sounds to good to be true.
How does a 1035 exchange work with a loan balance?
Under the right circumstances, this could happen.
This is the fifth time you asked roughly the same question. If you don't trust the broker or agent you are working with or the previous answerers, talk with an accountant because this really has to do with taxes (although it should be common knowledge among life insurance professionals).
Alternately, since you seem distrusting, you could also ask a fee-only financial planner this question and also make sure that the new life policy meets your goals. Fee-only financial planners do not receive commissions and would be the least likely to profit from their advice. Commissioned sales people may have a conflict of interest in their advice.
Reply:read this it may help
http://www.kuglersystem.com/kugler_produ...
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