Charitable Gift Life Insurance
Life insurance policy given by a donor to a charity; donor only relinquishes the cash value and the cost of the premiums previously paid. The receiving charity's future value of the life insurance policy is the death benefit. Since the charity is the owner of the policy, it can:
- borrow against the cash value;
- surrender the policy for its then cash value;
- utilize its conversion privileges..
Popular Insurance Terms
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Detailed descriptive list made available to the survivor (s) of the insured showing: attorney, accountant, insurance agent, and location of important documents such as wills, power of ...
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Insurance that follows an insured property. ...
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