Gifts of Life Insurance

Immediate Payment and Deferred Payment

Our supporters often overlook the benefits of giving a life insurance policy to Wasatch Academy.
If you are carrying more insurance coverage than your family obligations now require, you may find a hidden gift asset in a surplus, paid-up policy. Alternately, you could create a gift for the future by taking out a new policy on your life and naming Wasatch as the owner and beneficiary, thus creating an endowment gift from income rather than capital.

You must name us as irrevocable [you can't change the terms in the future] owner and beneficiary of an insurance policy to secure tax benefits from your gift. A gift of a paid-up policy produces a charitable deduction in the amount of the policy's cash surrender value or basis, whichever is less. If you create a new policy, we will pay the premiums, and you may deduct your gifts offsetting those payments.

A Gift of Life Insurance is for you if ...

• You are maintaining insurance coverage that your family no longer needs;
  
  
• You hold few appreciated securities in your portfolio, or few that you wish to donate;
  
  
• You are a younger donor who wants to create an endowment for us from income instead of capital.

See how a Gifts of Life Insurance works

To learn more about Bequests, Email us, or call us at (435) 462-1400 so that we can assist you.

Back to All Gifts-at-a-Glance

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