Gift-Replacement Life Insurance
How it works
You also create a life insurance policy, naming your children or other heirs as beneficiaries. The amount of the death benefit equals the contribution you made to create your life-income gift.
You pay the premiums for the policy from the income you are receiving from your life-income gift.
At your death, a fund at the Delaware Community Foundation receives the remaining balance of your gift plan and your heirs receive cash in the amount of your original gift.