It is possible to contribute a policy of whole life insurance to the station. This can be a fully paid policy that you have owned for many years or a new policy. If you choose to contribute a new policy, you can make a one-time payment to fund the policy or make annual premium payments. When the policy is pre-paid, your annual premiums are tax-deductible contributions to the station. In order for the gift to be completed, we must be both the owner and the beneficiary of the policy. Upon the donor’s death, the death benefit value of the policy comes to the station.

When a donor names the station as beneficiary of a life insurance policy without transferring ownership of the policy, there are no current tax benefits to the donor; however, there is a 100 percent estate tax charitable deduction for the death benefit amount.

To discuss your intentions or to learn more, contact Nancy Krueger at (812) 855-2935 or send an E-mail.

Please notify us if you are including the station in your estate plans. We want to say “Thank you!” Plus, we can help you ensure that your gift makes the biggest possible impact. If you have not written a will yet, regardless of your charitable intent, please consider doing so.

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WFIU/WTIU cannot provide legal or tax advice. Please consult your attorney, CPA, or financial planner before making any decisions regarding your gift planning.