Life Insurance Policy

Life Insurance Policy Diagram

How It Works

  1. You assign all the rights in your insurance policy to Chum, designate us as irrevocable beneficiary, and then receive an income-tax deduction
  2. Chum may surrender the policy for its cash value or hold it and receive the proceeds at your death

Benefits

  • You receive a federal income-tax deduction
  • If premiums remain to be paid, you can receive income-tax deductions for contributions to Chum to pay these premiums
  • You can make a substantial gift on the installment plan
  • Chum receives a gift they can use now or hold for the future

More Information

Contact Us

Gracia Swensen
Development Director
218-720-6521
gswensen@chumduluth.org

 

Chum
102 West Second Street
Duluth, MN 55802

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