1035 Exchange Amount - Existing Contract is an IUL, UL or VUL

If the 1035 Exchange is "Internal" and Is Existing 1035 Contract an IUL, UL or VUL is "Yes" then the 1035 Exchange Amount is calculated based on the 1035 Accumulated Value and Surrender Penalty on Existing Contract. The amount will be recognized under the 1035 Exchange rules and is excluded from the calculations used to check if the new policy is a Modified Endowment Contract (MEC).