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Existing policy: Many people own insurance policies that are no longer needed for their original purposes. A life insurance policy can be signed over to Mount Mary College making it the recipient of its benefits. In general, you will be entitled to an income tax deduction for the cash surrender value, and can deduct the amount of future premiums.
Purchasing a new life insurance policy: Through relatively modest annual gifts, you can create a major irrevocable gift. Your annual premiums can be deducted for income tax purposes. Be sure to seek advice from your financial or tax advisor as you plan.
For more information, please contact the Development Office, (414) 443-3639.