There are different ways a gift of life insurance can be made in order to accomplish your charitable goals while meeting estate or financial needs.

CWU Foundation as Beneficiary: The CWU Foundation can be the primary or secondary beneficiary of your life insurance policy, while you still retain ownership and access to the policy's cash. With this type of charitable giving the proceeds will still be included in your taxable estate because the life insurance policy is still under your name. However, you benefit through a charitable estate tax deduction and the insurance proceeds do not go through probate.

CWU Foundation as Owner: This type of donation provides you with immediate tax benefits. When you assign the CWU Foundation the irrevocable insurance policy, you will be allowed an immediate federal income-tax deduction and their will be no estate taxes since the CWU Foundation owns the policy. You have the option to pay the premiums directly to the insurance company or to the CWU Foundation, which in turn pays the premiums. With an existing policy, you can transfer ownership of the policy to the CWU Foundation.