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A Gift of Life Insurance
Consider the advantages of making a gift of life insurance to Southeastern Illinois College.
- Gifts of a policy are tax deductible, as are future premium payments.
- A gift of life insurance is certain. The full proceeds are payable to ensure that your philanthropic goals are achieved.
- Life insurance is paid promptly; it is not tied up in the administration of the estate.
- Unlike a will, life insurance is not a matter of public record. Proceeds can pass for Southeastern’s benefit in privacy, if you wish.
Life Insurance Gift Options
Buy a new policy and give it to Southeastern Illinois College: Purchase a new policy and name Southeastern Illinois College the owner and beneficiary of that policy. The ultimate gift will be far greater than the total of the premiums you paid. Payments made for future premiums are tax deductible.
Give your existing policy to Southeastern Illinois College: When children are mature or a business interest is sold, a life insurance policy may no longer be needed. Name SIC as the owner and beneficiary of your existing policy. The current value of the policy is tax deductible, as are all payments for future premiums.
Cash in your policy to fund a gift to Southeastern Illinois College: This is another good choice if you have a life insurance policy that you no longer need. You can use the current value of a policy to help finance your pledge to SIC, establish a charitable gift annuity, or even fund a scholarship.