1035 Exchange

A tax-free transfer of one life insurance or annuity policy for another. The new policy must cover the same person as the old policy.


A retirement savings and investment plan, sponsored by an employer, that helps employees save for retirement. Employees make contributions to their 401(k) directly from their paycheck before taxes are taken out, and employers often match a percentage of those contributions. 


Also known as a tax-sheltered annuity (TSA) plan, a 403(b) plan is a retirement plan for certain employees of public schools and other tax-exempt organizations. 

72t Rule

An IRS Rule that allows you take substantially equal periodic payments (SEPPs) from your accounts, free of penalty—no disability, death, or unemployment required. All you need to do is agree to take consistent withdrawals based on your life expectancy which must occur over a span of five years or until the owner reaches age 59½, whichever period is longer.