The contribution of a life insurance policy can provide a significant gift in a manner that can be especially attractive to younger donors. Fenwick High School offers recognition for the amount of the annual premium. By designating Fenwick as both the owner and beneficiary of a life insurance policy, the premiums are tax-deductible to you. If a fully paid life insurance policy is gifted the cash surrender value of the paid policy at the time of the gift is deductible to you.
Disclaimer: The information above is intended to assist you in your tax, estate, and charitable planning. It is not legal advice and should not be relied upon as such.