Gifts of Insurance
A gift of your life insurance policy is an excellent way to make a gift to Petoskey-Harbor Springs Area Community Foundation. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Petoskey-Harbor Springs Area Community Foundation. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
Benefits of gifts of life insurance
- Receive a charitable income tax deduction
- If Petoskey-Harbor Springs Area Community Foundation retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
- If Petoskey-Harbor Springs Area Community Foundation cashes in the policy, you will be able to see firsthand how your gift supports our charitable work
- If we retain the policy to maturity, or you name us as a beneficiary, once the policy matures, the proceeds of your policy will be paid to our organization so that we can use the proceeds to further our charitable work
How to make a gift of life insurance
To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include Petoskey-Harbor Springs Area Community Foundation as the beneficiary of your policy.
Contact us
If you have any questions about making a gift of a life insurance policy, please contact us. We would be happy to answer questions that you have.
Please let us know if you have already named us as a beneficiary of your life insurance policy. We would like to thank you and recognize you for your gift.
