If you have individual life insurance policies that are no longer needed to protect family members or a business, you can transfer them to Husson, with the University named as the owner and beneficiary. You can claim an income tax deduction for the lesser of either the policy’s replacement value (approximately the cash surrender value) or your cost basis (total premiums paid less total dividends received). Alternately, if you would prefer to maintain ownership of your policy, you can simply name Husson as a partial or full death beneficiary.
Additionally, if you have a group life insurance policy (such as those provided through your employer), you may make Husson a total or partial beneficiary. Usually, this is a simple matter of requesting a form from your human resources department and indicating a percentage to be distributed to Husson at your passing.
For more information, contact our Director of Planned Giving.
|Name||Phone and Email||Address|
Director of Planned Giving
|Beardsley Meeting House
1 College Circle
Bangor, ME 04401