1035 and surrender charges

Oct 31, 2007

  1. Survivor
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    Survivor Super Genius

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    If I were to work out a 1035 exchange from company A's policy to company B's policy, would company A likely try to apply surrender charges to the exchange? Can they do this by law?
     
    Survivor, Oct 31, 2007
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  2. djs
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    djs Super Moderator Moderator

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    First, your going to need a good reason to do the exchange, it has to be in the best interest of the client.

    Second, surrender charges still apply if applicable, so see above.

    You can reference AAFMAA - 1035 Exchange

    Dan
     
    djs, Oct 31, 2007
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