Federal tax code · Federal sources

Certain exchanges of insurance policies

26 U.S.C. § 1035

Publisher: U.S. Government Publishing Office / Office of the Law Revision Counsel
Edition: US Code
Last checked: 2026-09-01
Status: US Code, public domain

Edition and licensing notes

Edition. US Code (via govinfo.gov official link resolver), retrieved 2026-08-22

Status. US Code, public domain (US government work).

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What this document is

26 U.S.C. § 1035 - Certain exchanges of insurance policies is a federal tax code published by U.S. Government Publishing Office / Office of the Law Revision Counsel. It is one of the documents that insurance license exam questions are written from, including life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

26 U.S.C. § 1035: Section (a) (General Rules)
“a contract of life insurance for another contract of life insurance or for an endowment or annuity contract or for a qualified long-term care insurance contract;”
26 U.S.C. § 1035(a)(2), endowment contract exchanges
“No gain or loss shall be recognized on the exchange of - (1) a contract of life insurance for another contract of life insurance or for an endowment or annuity contract or for a qualified long-term care insurance contract; (2) a contract of endowment insurance (A) for another contract of endowment...”
26 U.S.C. § 1035(c), exchanges involving foreign persons
“To the extent provided in regulations, subsection (a) shall not apply to any exchange having the effect of transferring property to any person other than a United States person.”

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Questions about this source

26 U.S.C. § 1035 - Certain exchanges of insurance policies is a federal tax code published by U.S. Government Publishing Office / Office of the Law Revision Counsel. Edition: US Code (via govinfo.gov official link resolver), retrieved 2026-08-22.

No. This page summarizes the document and links to the official version. Always rely on the text published by U.S. Government Publishing Office / Office of the Law Revision Counsel for the current law.

Practice questions for Life & Health cite this document.

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