A tax-free Section 1035 Exchange of a life insurance policy to a different policy is permitted if it occurs

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A tax-free Section 1035 Exchange of a life insurance policy to a different policy is permitted if it occurs

Options

in the same state as the original transaction
within a 12 month period
from insurer to insurer and no cash is received by the policyowner
from agent to agent as long as the agents are licensed in the same line

Answer: from insurer to insurer and no cash is received by the policyowner

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