Gifts of Life Insurance

Life Insurance PolicyWhen a life insurance policy is no longer needed for personal financial wealth replacement, you can establish a legacy of community support while receiving tax benefits including reduced income taxes and estate taxes.

And, if you choose to continue paying premiums through The Philadelphia Foundation, you may be entitled to a charitable contribution deduction of up to 60 percent of your Adjusted Gross Income.

How It Works

  • You give a paid-up policy or continue to pay premiums while making The Philadelphia Foundation the owner and irrevocable beneficiary of your life insurance.
  • You receive a tax deduction for the approximate cost or fair market value, whichever is less.
    • If the policy is paid up, you may receive an immediate tax deduction.
    • If it is not, you can claim continuing tax deductions on premium payments you make directly or through gifts to The Philadelphia Foundation.
  • Upon your death, a fund is created to perpetually support nonprofits or causes that you have selected. Grants are made in your name, that of a person you wish to honor or anonymously.

Schedule a confidential conversation with our professional staff about your life insurance donation. Email us

or call (215)563-6417.

Contact Us

1835 Market Street, Suite 2410 | Philadelphia, PA 19103-2968 | Directions

Phone: 215-563-6417 | Email Us

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1835 Market Street, Suite 2410
Philadelphia, PA 19103


Accredited CF