You may have a life insurance policy that has outlived your original purpose, with all your children having grown up, and having accumulated enough assets to guarantee the financial security of your heirs. Such life insurance can be used for philanthropic purposes. There are two different ways you can structure a gift of life insurance to FUTI.

  • Name FUTI as a Beneficiary: By naming FUTI as the primary or secondary beneficiary of the policy, your Estate may be able to claim a charitable deduction for the proceeds that will pass to FUTI. For more information, click here.
  • Transfer the ownership to FUTI: By making FUTI the owner and beneficiary of your paid-up policy, you may be entitled to a tax deduction. For more information, click here.

 

For further inquiry, please contact us here.