Insurance is one of the most flexible planned giving options available to donors. Depending on how you wish to structure your gift, you can realize significant tax advantages during your lifetime or benefit your estate.
Life insurance needs change as life goes on. Children become self-sufficient and investments may provide additional income and security. After such developments, some life insurance coverage may no longer be needed for the reason it was originally purchased. If you gift a paid-up life insurance policy to Booth University College, you receive an immediate tax receipt for the paid-up value of the policy. When Booth UC is made owner and beneficiary of a new insurance policy, annual premium payments are tax-deductible.
Insurance policies also can be used, with annuities, to make a substantial gift and ensure that your estate is protected.
Our Director of Advancement will be pleased to speak with you further about what option may work best for you.
To arrange a gift of life insurance or to obtain more information on gift planning contact our Development Office.
The Advancement Office is happy to answer questions and help you with charitable giving.