If you have a life insurance policy that has outlasted its original purpose, consider making a gift of the policy. When you make a gift of your policy, you will receive an income tax deduction.
A further option is to make annual gifts that can be used to pay the premiums on maintaining the policy. You can receive an income tax deduction for each year you make a premium payment.
For more information, contact us at 1-866-273-2549.