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Gifts of Insurance

A gift of your life insurance policy is an excellent way to make a gift to Merrimack Valley YMCA. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Merrimack Valley YMCA. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.

Flowchart: Donor makes a gift of an insurance policy to MVYMCA. MVYMCA either keeps the policy until maturity or cashes in the policy for its cash value.

Benefits of gifts of life insurance

  • Receive a charitable income tax deduction
  • Receive additional income tax deductions each year that you make additional contributions so that Merrimack Valley YMCA can pay the annual insurance premiums
  • At death, the proceeds of your policy will be paid to our organization and we will use the insurance proceeds to continue our charitable work

How to make a gift of life insurance

To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include Merrimack Valley YMCA as the beneficiary of your policy.

Contact us

For more information, please contact Joyce Grippen, Chief Development & Marketing Officer at [email protected] or 978-651-3411.

Additional Information

You can also designate Merrimack Valley YMCA as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. Your estate may benefit from an estate tax charitable deduction.

Your deduction for the gift of life insurance will depend on the whether the policy has increased in value above the premiums and whether the policy is paid up or there are remaining payments to be made.

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