If you own a nonqualified deferred annuity contract or a cash value life insurance policy, you may wonder if you should switch to a new contract or policy at some point. You should always evaluate the features and benefits of your existing contract or policy before you make any changes. If you and your professional advisors decide that it makes good sense to change to a new contract, a 1035 exchange does not result in a taxable event, which can be a significant benefit for you…