Maximize Your Impact
Giving a life insurance policy you no longer need or funding a new policy to support the University of Virginia are both excellent ways to make a gift. When an existing policy is no longer needed in whole or in part to satisfy its original purpose (the children are grown, the spouse is provided for), the policy can be an ideal asset to fund a charitable gift larger than anything you might be able to fund during your lifetime.
Making a gift of life insurance to the University:
- Eliminates the asset from your taxable estate at your death.
- Ensures that your other assets will still be available to loved ones.
- Entitles you to a charitable income tax deduction.