The gift of a life insurance policy is an excellent way to give a substantial gift with only a small sum of money. When the AAFP Foundation is named the owner of a life insurance policy, all contributions to the AAFP Foundation to pay premiums are fully tax deductible.
If a fully paid policy is donated to the AAFP Foundation, its value is equal to the policy's replacement cost. The value of a partially paid policy approximates its cash surrender value. The exact value in either cash or the death benefit can be obtained from the insurance company.
If you are interested in making a gift of life insurance, you will need to consult with your attorney, accountant or other qualified professional for advice on estate and tax planning.
Please contact Brenda Cherpitel at 800-274-2237, Ext. 4452 for more information regarding the AAFP Foundation Planned Giving opportunities.
WHY DONATE TO THE AAFP FOUNDATION?
Supporting your Foundation means you believe in the power of family medicine and in the importance of helping others.
“The ultimate beneficiary...is the patients. Because all of this is to improve patient outcomes.”
Michael O. Fleming , MD
