Monday, October 26, 2020

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What Can I Give Life Insurance

Life Insurance

Many years ago you may have purchased a life insurance policy to ensure the financial security of your family. Today, your family circumstances may have changed and that policy is no longer needed for its original purpose.

If so, perhaps you should consider making a gift of that policy to WPBS-TV?

By giving outright and complete ownership of a partially or fully paid-up life insurance policy, you will be able to can claim an immediate tax deduction. The amount of this deduction is based on the lesser of the policy’s fair market value or the net premiums paid.

Another easy option for giving life insurance is to name WPBS-TV as a primary or contingent beneficiary of your new or existing policy.