A gift of your policy
If you own a life insurance policy that is no longer needed for its intended purpose, a gift of life insurance can provide immediate benefits for you. If you decide to make a gift of your policy today, you will receive an income tax deduction.
Annual gifts to pay premiums
A further option is to make annual gifts to ACF that can be used to pay the premiums on maintaining the gifted policy. You can receive an income tax deduction for each year you make a gift to us.
Naming us as a beneficiary
If you are like many people, you may not yet know if your life insurance policy will be needed, and you would like to preserve your options. Another idea to consider is maintaining your existing life insurance policy during your lifetime and naming Aspen Community Foundation as a beneficiary. Your insurance company can provide you with a change of beneficiary form that will permit you to name our organization as the sole beneficiary or as the beneficiary of a percentage of the policy proceeds.
Creating a new policy
If you don’t currently own a life insurance policy and wish to help further ACF’s mission, you can create a new policy, name us as sole beneficiary and give ownership of the policy to us. You will receive an income tax deduction for your gift to us. Life insurance premiums can be surprisingly low. If the policy is not paid up, you can send us a donation for the amount of the premium each year and receive an annual income tax deduction for each of those gifts as well.
Make the Most of Your Options
In addition to the satisfaction of helping ACF and our community, the following gifts of life insurance may provide specific tax benefits:
| Option | Benefit |
| Gift of existing policy | Income tax deduction |
| Annual gifts to cover premiums | Annual income tax deductions |
| Life insurance beneficiary designation | Estate tax deduction |
| Gift of new policy | Income tax deduction |
Learn more
There are many ways you can help ACF and benefit. Please contact us to learn more about gifts of life insurance and other ways you can help further the mission of Aspen Community Foundation.
