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            <h1 class="vgpage_title pg-page-title">Gifts of Life Insurance</h1>
        

    
        
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<h2>How It Works</h2><ul><li>You transfer ownership of a paid-up life insurance policy to the Virginia Living Museum.</li><li>The Virginia Living Museum elects to cash in the policy now or hold it.</li>
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<div id="vgbenefits"><h2>Benefits</h2><ul>
<li>Make a gift using an asset that you and your family no longer need.</li>
<li>Receive an income tax deduction equal to the cash surrender value of the policy.</li>
<li>You may be able to use the cash value of your policy to fund a gift that delivers income, such as a <a href="/deferred-gift-annuity">deferred gift annuity</a>.</li></ul>


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<h2>Next</h2>
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<li><a href="/life-insurance-faq" title="FAQs">Frequently asked questions on gifts of life insurance</a>.</li>
<li><a href="/contact">Contact us</a> so we can assist you through every step.</li>
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