Gifts of Life Insurance

Gifts of Life Insurance

This diagram represents how to make a gift of life insurance – a gift that costs nothing during lifetime.

How It Works

  • You transfer ownership of a paid-up life insurance policy to the John F. Kennedy Center for the Performing Arts, the National Symphony Orchestra, or Washington National Opera.
  • The Kennedy Center elects to cash in the policy now or hold it.

Benefits

  • Make a gift using an asset that you and your family no longer need.
  • Receive an income tax deduction equal to the cash surrender value of the policy.
  • You may be able to use the cash value of your policy to fund a gift that delivers income, such as a deferred gift annuity.

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