A life insurance gift will allow you to make a large contribution with very little cost to you. After your lifetime and/or the lifetime of another designated beneficiary (depending on the terms of your policy), you can designate that the remaining balance of your life insurance policy goes to FMMC. Policy proceeds distributed to FMMC are exempt from estate tax, providing a great tax benefit.
Alternatively, you can make a gift of a whole life policy to FMMC. Doing so will give you an immediate income tax deduction for the cash surrender value, and you can annually deduct the cost of any remaining premiums due on the policy.
If you would like to learn more about making FMMC a beneficiary of your Life Insurance policy, or you would like to notify us that you have already done so, please click here.
