1035 Exchange
A tax-free method of exchanging an existing life insurance policy or annuity contract for a new one. The exchange is not taxable and the tax cost basis of the old contract is carried over to the new one. The exchange must meet the requirements of Section 1035 of the Internal Revenue Code for the transaction to be tax-free. Term Conversion
The right to convert a term policy to a permanent plan for the equivalent amount of coverage without having to provide additional evidence of insurability.
Forms & FAQs for All Products
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Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (800) 369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. The Representative may also be a credit union employee that accepts deposits on behalf of the financial institution.
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©1997-2009 CUNA Mutual Group.
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