Life Insurance

What it Means

Life insurance is more than a source of protection for your family's financial future; it is a flexible, versatile asset that can be used to leave your legacy through the Asbury Foundation. You can name the Asbury Foundation the beneficiary of a life insurance policy or make the Foundation the policy owner through an irrevocable gift. Both of these scenarios offer specific tax advantages. Future premium payments are deductible only if you transfer ownership of the policy to the Foundation.

How It Works

1. You transfer ownership of a paid-up life insurance policy to the Asbury Foundation. You receive income tax deduction.
2. The Asbury Foundation elects to cash in the policy now or to keep the policy and receive the death benefits later.

Benefits

Allows you to…

• Receive gift credit and an immediate income tax deduction for the cash surrender value of the policy.
• Make a large gift at little cost to you.
• Have the satisfaction of making a significant gift now to the Asbury Foundation without adversely affecting your cash flow.

The content provided on The Asbury Foundation site is not offered as legal or tax advice. Examples of tax benefits may or may not apply to your own situation at the time of your gift. The Asbury Foundation urges donors to seek the advice of a tax advisor, attorney, and/or financial planner to make certain a contemplated gift fits well into your overall circumstances and planning. All material is presented solely as educational information and is not a solicitation or offer.