A charitable life insurance gift is one of the easiest ways to make a significant donation to Luther College, and enjoy tax benefits during your lifetime or on your estate.
- Enjoy tax benefits – Depending on how you donate your life insurance, you will enjoy tax benefits during your lifetime or on your estate.
- Enjoy your donation now – You can become a major donor to Luther College today, rather than having to wait years to make your gift from accumulated assets.
- Make a lasting impact – Donating life insurance allows you to make a significant charitable donation for a comparatively small premium. This donation will have a lasting impact on our students and the Luther community.
How it works
There are several ways to give a gift of life insurance:
- Transfer an existing life insurance policy to Luther and receive a charitable gift receipt.
- Apply for a new life insurance policy, with Luther as the owner, and receive a tax receipt for the premiums you pay.
- Make Luther the beneficiary of a life insurance policy. This option gives you no immediate tax benefits since Luther does not own the policy, but your estate will receive a charitable tax receipt for the death benefits.