Gifts of Life Insurance - Paid-Up Policy:

The Details

Donate a policy, take a deduction, deduct future premium payments, if any, and make a philanthropic gift. You will also get the proceeds out of your taxable estate.

Is this gift right for you?

A gift of a paid-up life insurance policy is for you if…

  • You are maintaining insurance coverage that your family no longer needs.
  • A significant charitable deduction would be useful to you this year.

Are you still carrying life insurance policies your family no longer needs? Consider giving those surplus policies to Johns Hopkins. You might help us more than you ever thought possible by using an asset you considered surplus.

Make your gift by naming us the irrevocable owner and beneficiary of a paid-up insurance policy on your life (this arrangement makes the gift complete in the eyes of the IRS).

You will receive an immediate charitable deduction for your gift. It will be the lesser of the policy's fair market value we can guide you in determining this or the total of your net premium payments.

We reserve the right to keep a donated insurance policy in force during your lifetime or to terminate it sooner for its cash-surrender value.

Please contact us so that we can assist you through every step of the process.

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