Gifts of Life Insurance
A gift of life insurance can provide a significant future gift to the Ross Memorial Hospital Foundation at a very modest, present cost to you. You may make such a gift with either an existing policy or a new one.
You may also give the death benefit of an existing policy simply by naming Ross Memorial Hospital Foundation as the beneficiary. However, to receive a current tax benefit, you must also transfer ownership of the policy to the Foundation, which entitles you to a donation receipt for the cash value of the policy.
When you make the Ross Memorial Hospital Foundation the owner and beneficiary of a new policy, you receive a donation receipt for every premium you subsequently pay. At your death, the Foundation will receive the proceeds.