Replacement Policies

[Norwayguy]

The default non forfeiture provision is normally extended Term Insurance -- full face term for whatever time the CV will provide.

It is the default but you can normally do the other options.

 

[VolAgent]

Re: Replacement

You could always do a 1035 exchange, into the new policy....Just another option

This is FE, do any carriers accept 1035 for their FE products?

 

[smokin goose]

This particular client has a 20 pay with LN. The first 3 years are rop. He got it six months ago, so there is no cash value.

 

[WinoBlues]

Re: Replacement

This is FE, do any carriers accept 1035 for their FE products?

Or have a taxable gain, ever?

 

[richardberry134]

Re: Replacement

I have little bit idea for it. If you replace policy to other policy. Firstly you have to fill up replacement form. Your RPU of existing policy which you replace will be decrease. This is not possible in all the cases.