Life insurance policies
If you own (or will be purchasing) a “whole life” or “universal life” insurance policy, and you determine that you are not going to need it, you will be entitled to an income tax deduction if you transfer ownership of the policy to Medical Teams International. In addition, if premiums remain to be paid after the transfer is made, you can receive additional tax deductions if you continue paying the premiums.
In addition, life insurance coverage of various kinds can be used to provide support for Medical Teams International at the end of your life. All you need to do is arrange for a Beneficiary Designation naming Medical Teams International as recipient of some or all of the amount paid by the policy.
If you would like additional information, please contact us.
Linda Ranz
lranz@medicalteams.org
425.284.1941
| The information on this Web site does not constitute legal, financial, tax or estate planning advice and should not be relied upon as a substitute for such advice. Medical Teams International encourages you to seek the counsel of your own professional advisers and values their involvement as you determine how you would like to proceed. | |