Gifts of Insurance 

Gifts of Insurance

A gift of life insurance can be a low-cost yet generous way to make a meaningful contribution to Northern Waters Land Trust. You can name Northern Waters Land Trust as primary beneficiary of your life insurance policy or as contingent beneficiary should your other beneficiaries not survive you. You can also donate your paid up life insurance policy.

Benefits to you:

  • Reduction in your estate taxes, because the proceeds of the policy are no longer part of your estate.
  • A charitable deduction when you name Northern Waters Land Trust as a beneficiary or assign ownership to the land trust.

Designating Northern Waters Land Trust as a Beneficiary

  • When you designate Northern Waters Land Trust, in part or in full, you still retain ownership of the policy and have the flexibility to make changes to the beneficiary designation later.
  • Any policy proceeds distributed to Northern Waters Land Trust will be exempt from estate tax calculations. As the beneficiary, we would receive the gift after your lifetime.

Donate Your Life Insurance Policy

If you no longer need your life insurance policy, and it is all paid up, you can donate it to Northern Waters Land Trust. In return for donating a portion or the entirety of your life insurance policy, you can claim an income-tax deduction for either the tax basis or the fair market value of the policy, whichever is less, for the year of the donation. If you stare still paying premiums, in subsequent years, you may designate deductible cash gifts to the Land Trust, which you can use to make the premium payments.


For more information, please contact your financial advisor.


Make a Lasting Gift

Naming Northern Waters Land Trust as a beneficiary of your life insurance policies gives the insurance proceeds to the land trust to help protect the lands and waters you love while also removing them from your taxable estate.

We'd love to hear from you.