How It Works
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You transfer ownership of a paid-up life insurance policy to the Hospital.
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The hospital elects to cash in the policy now or to keep the policy and receive the death benefit later.
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Benefits
- You receive gift credit and an immediate federal income tax deduction for the cash surrender value of the policy or your net premiums paid, whichever is less.
- 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 the Hospital without adversely affecting your cash flow.
To learn more about gifts of life insurance, Email us, complete the Information Request form, or call us at 860-545-2162 so that we can assist you.
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