Life Insurance Policy
You wish to make a large gift with little cost to yourself.
How to Make the Gift:
Contribute a life insurance policy you no longer need and name Hilbert College as the beneficiary and complete a Hilbert College Confidential Statement of Revocable Gift. If you desire to receive an immediate income tax charitable gift deduction, you must sign over a whole life policy to Hilbert College, who in turn will sell the policy and collect the proceeds.
Depending on which option you choose, you could receive a current income tax deduction and could possibly receive future deductions through gifts to pay policy premiums.