| Description |
| Basis 1035 |
| Type : Currency |
| Definition |
| The owner's cost basis in the proposed or pending policy to be exchanged. Cost Basis is the sum of all premiums paid for the policy, minus the sum of all withdrawals or partial surrenders taken. By withdrawing interest earnings, it is possible the sum of withdrawals will be greater than the sum of premiums, in which case the cost basis will be negative. It is also used to track FIFO taxation of withdrawals. This is a U.S. specific property. |
| Parents |
| AnnuityUSA LifeUSA |