A gain may be deferred on the exchange of a life insurance contract for
A)Another life insurance policy.
B)Certain annuity contracts.
C)Certain endowment contracts.
D)All of the above.

Question

Quizplus · Accepted Answer

A gain may be deferred on the exchange of a life insurance policy for another life insurance policy, certain annuity contracts, or certain endowment contracts, as stated by the IRS under section 1035 of the tax code. Therefore, all the options (A, B, and C) are correct.

A Gain May Be Deferred on the Exchange of a Life