Gifts of Life Insurance - Paid-Up Policy
How It Works
- You transfer ownership of a paid-up life insurance policy to Pomona College .
- Pomona College cashes in the policy now or maintains it and receives the death benefit later.
- You receive gift credit and an immediate income tax deduction for the cash surrender value of the policy.
- In some cases, you can use the cash value in your policy to fund a life-income gift, such as a deferred gift annuity.
- You gain the satisfaction of making a significant gift to Pomona College without adversely affecting your cash flow.