What is CHARITABLE GIFT LIFE INSURANCE?

An insurance policy donated to a charity. The donor receives a tax deduction while the charity can either borrow against the policy’s cash value, or surrender the policy for the cash value, or covert it from a group to an individual policy.

More On This Topic



Link to This Definition
Did you find this definition of CHARITABLE GIFT LIFE INSURANCE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary