Gifts of life insurance enable you to make a substantial future gift by making small premium payments over time. There are several ways to make a gift to Memphis Athletics through life insurance. You may change the beneficiary of an existing policy. This will not provide an income tax deduction, but you will retain ownership of the policy. You may also purchase and donate a new or existing policy, and transfer ownership to the Memphis Foundation. The contract’s value and premiums, given to Memphis through the Memphis Foundation, may qualify for an income tax deduction. Upon your death, the insurance proceeds go to the purpose you designated. Policies which may no longer be needed is an excellent strategy to reduce income taxes.