If you are interested in making a large gift with little cost, consider giving Penn State a life insurance policy you no longer need. A gift of life insurance provides an opportunity to make a larger gift than you may have thought possible. When you transfer a policy you own to Penn State as the new beneficiary, you can receive immediate and future income tax deductions for the total of premiums paid or the fair market value of the policy. You can transfer either a new or existing policy to Penn State.
Penn State’s Office of Gift Planning will confidentially answer your questions about giving and work closely with your legal, tax, and other advisers to come up with an integrated plan that meets each of your personal goals. Please contact us anytime or click here to learn more.