Gifts of Life Insurance
Immediate Payment and Deferred Payment
Our supporters often overlook the benefits of giving a life insurance policy to Hartford Hospital.
If you are carrying more insurance coverage than your family obligations now require, you may find a hidden gift asset in a surplus, paid-up policy. Alternately, you could create a gift for the future by taking out a new policy on your life and naming the Hospital as the owner and beneficiary, thus creating an endowment gift from income rather than capital.
You must name the owner of an insurance policy to secure the tax benefits from your gift. A gift of a paid-up policy produces a charitable deduction in the amount of the policy's cash surrender value or basis, whichever is less. If you want to give us a policy on which premiums are still payable, please call us to discuss options for premium payments.
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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