Life Insurance as a Gift

Life insurance policies are an excellent choice for creating a major gift at little cost to you. By naming the Mt. Pleasant Area Community Foundation as beneficiary of a new or existing life insurance policy, you receive a tax deduction for the value and any subsequent premium payments. When the policy is redeemed, the Foundation will use the proceeds to carry out your charitable objectives.

The procedure is simple - you start by irrevocably assigning your insurance policy to the Mt. Pleasant Area Community Foundation. The Foundation is also named beneficiary of the policy. You can make annual tax-deductible contributions to cover the policy's annual premium. Or, if the policy is paid up, you will receive an immediate tax deduction in an amount equal to the policy's cash surrender value.