Life Insurance

A life insurance policy may be gifted to United Way of Olmsted County as the owner or beneficiary of an existing or new life insurance policy.  There are several ways in which a donor may use life insurance to make a gift.

  • Make a gift of an existing life insurance policy naming United Way of Olmsted County as a primary beneficiary or a contingent beneficiary.
  • Establish a new policy and name United Way of Olmsted County as the owner of the policy.
  • Use life insurance to replace the value of gifts to a charitable trust.

The charitable organization must be both the beneficiary and owner of the policy in order for the donor to be entitled to a charitable tax deduction.

Additional Resources