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Gifts of Life Insurance |
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How It Works
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You transfer ownership of a paid-up life insurance policy to Ithaca College. |
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Ithaca elects to cash in the policy now or to keep the policy and receive the death benefit later. |
Benefits
- You receive gift credit and an immediate income tax deduction for the cash surrender value of the policy (technically, the “interpolated terminal reserve 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 can have the satisfaction of making a significant gift now to Ithaca without adversely affecting your cash flow.
More
- Read more detail. Click here.
For more information
If you are considering a gift of life insurance, email us, complete the personal illustration form, or call us at 607-274-3466 so that we can assist you through every step of the process.
