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Important reminders
DO:
It is important that you name Children's as the irrevocable owner of the policy and not just its beneficiary. If you retain ownership of the policy, the IRS will not allow a deduction for your gift, and will not permit you to deduct your premium payments, even though you are making them on our behalf.
WATCH OUT:
If you have borrowed against a life insurance policy, a gift of the policy with the loan still outstanding will create taxable income for you in the amount of the loan balance.
For more information
E-mail us, complete the personal illustration form, or call us at so that we can assist you through every step of the process.