Insurance
A gift of your life insurance policy is an excellent way to make a gift to Maine Community Foundation. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Maine Community Foundation. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
Benefits of gifts of life insurance
- Receive a charitable income tax deduction
- If Maine Community Foundation retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
- If MaineCF cashes in the policy, you will be able to see firsthand how your gift supports our charitable work
- If MaineCF retains the policy to maturity, or you name us as a beneficiary, once the policy matures, the proceeds of your policy will be paid to our organization to add to or create a charitable fund to support the organizations and causes that mean the most to you
How to make a gift of life insurance
To make a gift of a life insurance policy during your lifetime, please contact us.
To make a gift of life insurance by naming MaineCF or a fund held at MaineCF as the beneficiary of the policy please contact your life insurance provider and request a beneficiary designation form. You may need to provide our name, address and tax identification number on the beneficiary designation form. Please call us if you need assistance.
Contact us
If you have any questions about making a gift of a life insurance policy or abount naming MaineCF as a beneficiary of the policy, please contact us. We would be happy to answer questions that you have.
Please let us know if you have already named us as a beneficiary of your life insurance policy. We would like to thank you and recognize you for your gift.