Matthew Moreno, Life Insurance Broker
Matthew Moreno
Pensive Life And Health
Life Insurance Broker Licensed in IL, AZ, FL, OH, TX and VA
Contact Details
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Location
Palos Heights, IL
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Website
Matthew Can Help With:
About Me
Hi, I'm Matthew, your area life insurance advisor. I focus on simplifying the process of choosing a policy that protects your loved ones. You don't have to figure it out alone — I'll compare the best options and walk you through every step of the journey.
Q&A with Matthew Moreno
What is a 1035 exchange and how does it work with life insurance?
Answer: Allows you to transfer funds i.e Cash Value of a life insurance policy to another life insurance policy or non-qualified annuity or even a endowment contract. However you may not exchange an annuity for a life insurance policy it would become taxable. In order for it to be considered a 1035 exchange the finds must be a direct transfer between the insurance company's. It can't touch you're bank account.