Gifts of Life Insurance
How It Works
You transfer ownership of a paid-up life insurance policy to The Hotchkiss School.
After the transfer, The Hotchkiss School elects to cash in the policy now or to keep the policy and receive the death benefit later.
- You receive gift credit and an income tax deduction for the lesser of the cash surrender value of the policy or the total of your premium payments.
- 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 have the satisfaction of making a significant gift now to The Hotchkiss School without adversely affecting your cash flow.