A donor may make a life insurance gift to the foundation either by designating ECU Health Foundation as the owner or beneficiary of the insurance policy and by designating a portion of the proceeds to the ECU Health Foundation.
Your deduction for the gift of life insurance will depend on whether the policy has increased in value above the premiums and whether the policy is paid up.
TAX BENEFITS
Potential charitable deduction if you itemize for an amount approximately equal to your policy's cash surrender value.