An easy and straightforward method of philanthropic giving is through life insurance policies. The Foundation welcomes gifts of life insurance when the policy is paid in full and the Foundation is named as the owner and the irrevocable beneficiary of the policy.
The Foundation is also pleased to accept gifts of life insurance policies that are not paid in full at the time of the gift, provided that the policy:
- Can be surrendered by the Foundation as of the date of the gift for its current value;
- Can be converted by the Foundation as of the date of the gift to a reduced face amount;
- Has sufficient value as of the date of the gift to keep it in effect without payment of any additional premiums.
We will also gladly accept benefits payable under a life insurance policy where the Foundation is a named beneficiary or contingent beneficiary under the policy, whether the policy is owned by the Foundation or not.