Support Whittier
Life Insurance
Gifts through Life Insurance
You may contribute a fully paid existing life insurance policy by making Whittier College the owner and beneficiary. This type of gift may be particularly attractive if you find your policy is no longer needed for its original purpose. The deduction is equal to the replacement value of the policy or the total of premiums paid, whichever is less.
A popular alternative is establishing a new policy and naming Whittier College as the owner and beneficiary; you remain responsible for the premium payments. The College will also accept an existing insurance policy that is not fully paid up if it can be converted to a fully paid policy within five years. Under these plans you may take a deduction for the value of premiums paid on a new policy, or for approximately the cash surrender value (interpolated terminal reserve) of an existing policy, plus any future premium payments paid.
