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The Internal Revenue Code provides for 3 types of tax-free exchanges of life insurance and annuity contracts under 1035 exchange? Which of the following is

The Internal Revenue Code provides for 3 types of tax-free exchanges of life insurance and annuity contracts under 1035 exchange? Which of the following is not an allowed 1035 like-kind exchange? a) The exchange of a life insurance policy for an annuity policy.

b) The exchange of a life insurance policy for another life insurance policy.

c) The exchange of an annuity policy for a life insurance policy. d) The exchange of an annuity policy for another annuity policy.

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