Gifts of Life Insurance
A gift of life insurance often provides a significant contribution method:
If you designate Hellenic College, Inc. as owner and beneficiary of a paid-up life insurance policy, you receive a charitable deduction approximately equal to the replacement cost.
If the policy is not paid up, you receive an income tax deduction equal to the "cash surrender value" in the year the gift is made. Thereafter, you may contribute annual amounts to Hellenic College Holy Cross Greek Orthodox School of Theology, which pays the premium. Each time you make this contribution, you receive a tax deduction for those amounts.
If you take out a new policy naming Hellenic College, Inc. as owner and beneficiary, your future premium payments are considered charitable contributions to the University. In addition, the proceeds, when received, are not included in your gross estate for federal estate tax purposes.
You many also choose to make an outright gift to Hellenic College Holy Cross Greek Orthodox School of Theology of the surrender value of a policy. In some cases, this gift may be used to provide income for you and/or another beneficiary.
As stated previously, the material in this entire section ("Giving Opportunities") of our website is designed to furnish our alumni and friends with general information. It is not intended as legal or financial advice. When considering a charitable gift, be sure to consult your attorney, professional adviser or accountant to ensure that it meets your individual circumstances. The Office of Institutional Advancement will be happy to assist you and your advisers in developing an approach that will best fit your needs and desires. If you would like further information concerning giving opportunities, please contact the Office of Institutional Advancement, Hellenic College Holy Cross Greek Orthodox School of Theology, 50 Goddard Avenue, Brookline, MA 02445, (617) 850-1268.