Gifts of Life Insurance
Gifts of Life Insurance
How It Works
- You transfer ownership of a paid-up life insurance policy to University of Maryland St. Joseph Medical Center.
- UM St. Joseph Medical Center elects to cash in the policy now or hold it.
Benefits
- Make a gift using an asset that you and your family no longer need.
- Receive an income tax deduction equal to the cash surrender value of the policy.
- You may be able to use the cash value of your policy to fund a gift that delivers income, such as a deferred gift annuity.
Next
- More details on gifts of life insurance.
- Frequently asked questions on gifts of life insurance.
- Contact us so we can assist you through every step.