Giving to Newport Hospital

Planned Giving

Donating life insurance is another creative way to make a meaningful charitable gift. Here are some options to consider:

Give a paid-up policy. You may have a life insurance policy that is no longer needed. You can name the hospital foundation of your choice as the beneficiary and transfer ownership of the policy. Your charitable deduction would be about equal to the policy cash value.
Give a policy you are still paying premiums on. Your charitable deduction is the approximate cash value and future premium payments on the policy.
Assign the dividends to the hospital of your choice. The value of your dividends becomes an annual donation.
Purchase a new policy to guarantee a pledge.
Designate a beneficiary. Name the hospital foundation of your choice as a beneficiary to receive all or a percentage of the policy. A charity may be named as a contingent beneficiary.

For more information, please contact Mary Alice Smith, chief development officer, at 401-845-1617 or e-mail masmith@lifespan.org.