Life insurance policies can be used to make a meaningful gift to UPMC. You can easily gift a paid-up policy whose coverage you no longer need to UPMC by naming UPMC as the irrevocable owner and beneficiary of the policy.
Gifting a paid-up policy can entitle you to a tax deduction in the amount of the premiums paid towards the policy or cash surrender value, whichever is less.
You can also take out a new policy for the benefit of UPMC or simply list UPMC as a beneficiary of a policy.
For additional information about planning your gift for the benefit of UPMC, please call 412-647-3048.
The material presented in this web site is not offered as legal or tax advice. You are urged to seek the advice of your tax advisor, attorney, and/or financial planner to make certain a contemplated gift fits well into your overall circumstances and planning.