In the 3rd paragraph you state "Keep in mind that a 1035 exchange can be used only when it involves the same contract or policyholder and the same type of product.3". The footnote #3 is to an Investopedia.com article which states in their first paragraph ".... transfer of an existing annuity contract, life insurance policy, long-term care product, or endowment for another of like kind." This wording of "like kind" or "same type of product" is unclear. In practice, we can exchange a life insurance policy for an annuity or even long-term care insurance. They are all insurance products, so maybe that's where the confusion comes in. But each serves a different role. Maybe your article can add some clarity with a few examples? For example, the cash value of an existing life insurance policy can be exchanged for an annuity or a long-term care insurance policy? This would help, because when I read "same type of product" I think it means exchange a life insurance policy for another life insurance policy.