This is a great way to remember the college once your children are raised and become independent. If you have an old policy that is no longer needed, consider making Culver-Stockton College the owner. A tax deduction in the amount of the cash value of the policy is allowed. Also, if ownership is assigned to the college and you continue to make the premium payment, you also get a tax deduction based on the cost of the premium each year.
Another option would be to list the college as a beneficiary on your policy.
Need more information about life insurance policies?
Please contact our Advancement Services Department at (800) 755-2287 or send them an e-mail at firstname.lastname@example.org.