1035 Exchange

[bluemarlin08]

Is it typical for a company to request a copy of the drivers license of the insured, 6 weeks after the 1035 request, then 2 weeks later request a copy of the drivers license of the trustee of the ILIT?

 

[Larry Tew]

Is it typical for a company to request a copy of the drivers license of the insured, 6 weeks after the 1035 request, then 2 weeks later request a copy of the drivers license of the trustee of the ILIT?

They may want it for Patriot Act purposes. I would just ask them why they want it.

 

[dgoldenz]

Stall tactics are not uncommon with 1035's.

 

[Larry Tew]

I assumed you were talking about the receiving company. If it's the old company, you just bite the bullet and let the process play out. In this case, if it becomes outrageous, consider asking your client to call the company and ask.

 

[WinoBlues]

Could be someone is questioning the signatures' validity.