Gifts of Life Insurance
Life Insurance Policy
An important but frequently overlooked role of life insurance is the one it can play in charitable gift planning. Life insurance itself can be the direct funding medium for a gift, permitting the donor to make a substantial gift (face value of policy) for a relatively modest annual outlay (i.e., the premium payment).
Life Insurance Policy 
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Life Insurance to Replace Gift
Life insurance can also be used to replace an asset that has been given to the Navy League. How it works: After a donor makes a gift to the Navy League, the tax savings produced by the charitable deduction are used by his or her children or an irrevocable trust to purchase and pay the premiums on a life insurance policy on the donor's life. Such an arrangement can ensure that the interests of family beneficiaries will not be adversely affected.
Life Insurance to Replace Gift 
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Disclaimer
Legal Disclaimer
The Navy League is an exempt organization, duly qualified under Section 501(c)(3) of the Internal Revenue Code, contributions to which are tax deductible in accordance with federal law.
If your donation is for a scholarship, the Navy League Foundation is a 501(c)(3) organization: Federal Tax ID 31-1677884.
