Gifts of Life Insurance - Paid-Up Policy

Lifetime Insurance Diagram

How It Works

  • You transfer ownership of a paid-up life insurance policy to the University of South Carolina or one of its affiliated foundations.
  • The University of South Carolina or one of its affiliated foundations cashes in the policy now or maintains it and receives the death benefit later.

Benefits

  • You receive gift credit and an immediate income tax deduction for the cash surrender value of the policy.
  • In some cases, you can use the cash value in your policy to fund a life income gift, such as a deferred charitable gift annuity.
  • You gain the satisfaction of making a significant gift to the University of South Carolina or one of its affiliated foundations without adversely affecting your cash flow.

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