Gifts to George Fox through life insurance are very beneficial gift options for donors and the university. Life insurance gifts enable donors to make a substantial gifts – often far more significant than they thought possible.
There are three ways to make a life insurance gift to George Fox.
- Transfer an existing policy to GFU, perhaps a policy no longer needed for the protection that was originally intended. In most cases, this will involve a "paid-up" policy. By making GFU the owner and beneficiary of the policy, you receive a charitable deduction based upon the current cash value of the policy. [Example]
- Purchase a new policy with GFU named as applicant, owner, and beneficiary. Premium payments are contributed to George Fox and are cash donations to the university. The university makes the payments to the insurance company. [Example]
- Designate George Fox as a beneficiary of an existing policy. Because you retain ownership of the policy, there are no immediate tax savings and the benefits may be subject to estate tax. GFU will benefit from a very meaningful gift.
For more information about life insurance gifts, please contact Dave Adrian by e-mail at email@example.com or phone at 503-554-2113. Financial and tax deduction calculations, customized gift plan proposals and counsel are available at no charge or obligation.