Gifts of Life Insurance

If Central Maine Medical Center is designated the beneficiary of a paid-up life insurance policy and the policy is given to the organization, the donor will be entitled to a charitable deduction equal to the policy's cash surrender value.

A policy on which premiums are still owed which names Central Maine Medical Center as beneficiary can also be given to CMMC. The charitable deduction equals the cash surrender value. Additional deductions can be generated if the donor chooses to make further premium payments.