Gifts of Life Insurance
How It Works
- You transfer ownership of a paid-up life insurance policy to the Chesapeake Bay Foundation.
- CBF elects to cash in the policy now or hold it.
- Make a gift using an asset that you and your family no longer need.
- Receive an income tax deduction.
- In some cases, you can use the cash value in your policy to fund a life-income gift, such as a deferred gift annuity.