Are you one of the millions of people who own a life insurance policy? Did you know that you can donate a life insurance policy to Purnell School?

Life insurance plays a major role in most estate plans, but it can also play a major role in your charitable giving. Life insurance is relatively easy to donate, and there are various methods by which a policy may be given to Purnell School. You may:

• Irrevocably assign a paid-up policy to the school
• Irrevocably assign a life insurance policy on which premiums remain to be paid
• Name the school as a primary beneficiary of the proceeds from an existing policy

Any of the types of life insurance gifts listed above will be gratefully accepted by Purnell School. In the event a policy is contributed on which premiums remain to be paid, Purnell will pay the premiums provided the donor makes equivalent contributions for the purpose of paying the remaining premiums. Any premiums paid by the donor of the policy will qualify the donor for a charitable income tax deduction. Policies that are paid in full will allow the donor to take a charitable income tax deduction on the computed current value of the policy in the tax year that Purnell is named as the owner and beneficiary. Another benefit is that once the policy has been gifted to Purnell School, it is no longer considered as a part of your taxable estate.