Gift of Life Insurance
When a donor owns a life insurance policy with accumulated cash value for which the original purpose for the protection no longer applies—such as to educate children now grown or to provide financial security for a spouse now deceased—this life insurance policy can be redirected to help support APDA in one of two ways:
- One option is simply to name APDA as the primary beneficiary. (Note: naming APDA as beneficiary while you retain ownership of the policy, however, does not qualify the donor for an income tax deduction.)
- Option two is to name APDA as the beneficiary and also assign APDA ownership of the policy as a current charitable gift.
Please call APDA at 800-223-2732 to learn more.