A life insurance policy no longer needed for its intended purpose or family security and protection makes a very good charitable gift.

By naming Ausbon Sargent as owner and irrevocable beneficiary, you are entitled to an income tax charitable deduction for the value of the policy at the time of transfer.  The value of a fully paid up policy is its replacement cost.  If the policy is not fully paid up, its value is approximately equal to its cash surrender value.  Continued payment of the premium is also deductible by you when the premiums are paid directly to Ausbon Sargent.