Planned Giving: Life Insurance
A gift of life insurance is an attractive way to support Manchester University at a relatively low cost. Naming Manchester as both owner and beneficiary of an existing life insurance policy provides you with an income tax deduction and possible estate tax benefits. If there are ongoing premiums after transferring ownership, you receive additional income tax deductions if you make contributions to the University to pay those premiums.
Some donors choose to retain ownership of their insurance policy and name Manchester as beneficiary only. While giving life insurance in this manner does not provide the same tax benefits, your contribution generously supports Manchester students and creates a lasting legacy.
For more information, contact:
Stephen Thomas, director of gift and estate planning