Gifts of Life Insurance
How It Works
- You transfer ownership of a paid-up life insurance policy to Maine Medical Center.
- MMC elects to cash in the policy now or hold it.
- Make a gift using an asset that you and your family no longer need.
- Receive an income tax deduction equal to the cash surrender value of the policy.
- You may be able to use the cash value of your policy to fund a gift that delivers income, such as a deferred gift annuity.
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