Life Insurance Many individuals have life insurance policies whose benefits they no longer need. If this applies to you, you may want to consider naming the Woman’s Club of Coconut Grove the beneficiary and assigning us ownership of the policy. In doing so, you will receive a charitable deduction; and in removing the life insurance policy from your estate, you may also reduce your estate taxes. A gift of a current policy may also enable the donor to turn a monthly premium into a tax free charitable gift. If you or your advisers have any questions about this information, please contact Virginia Yermoli at 786-252-9272or by email at: email@example.com.