Gift of Life Insurance
Donate a policy, take a deduction, deduct future premium payments, if any, and make an extraordinary gift.
How it works
- You transfer ownership of a paid-up life insurance policy to Jefferson.
- You receive a tax deduction based on the cash value of the policy at the time of transfer. If not paid up, you may be entitled to a tax deduction for the annual premiums paid to Jefferson.
- Jefferson elects to cash in the policy now or hold the policy.
- Make a gift using an asset you and your family no longer need.
- Receive an income tax deduction.
- In some cases, you can use the cash value in your policy to fund a life-income gift, such as a charitable gift annuity.