Life Insurance
A gift of life insurance is an attractive but sometimes overlooked way of giving. It is an especially good option for donors who wish to make a substantial gift through relatively modest annual payments, have an existing policy that is no longer needed for its original purpose, or can utilize the resulting tax or estate-planning benefits.
By naming UNH Foundation as owner and irrevocable beneficiary, the donor is entitled to an income tax charitable deduction for the value of the policy at the time of transfer. The value of a paid-up policy is the present value of the policy. If the policy is not paid up, its present value is calculated. If the donor chooses to continue making payment on the premiums of a gift policy, the premium payments are also deductible.
