Donors often overlook the benefits of giving a life insurance policy to Orange Coast College. If you are still carrying more insurance coverage than your family obligations now require, you can find a hidden gift asset in a surplus, paid-up policy. Alternately, you could create a gift for the future by taking out a new policy on your life and naming Orange Coast College as the owner and beneficiary, thus creating an endowment gift from income rather than capital.
You must name us as irrevocable owner and beneficiary of an insurance policy to secure tax benefits from your gift. A gift of a paid-up policy produces a charitable deduction in the amount of the cash surrender value of the policy. If you create a new policy, we will pay the premiums, and you may deduct your gifts offsetting those payments.
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