Life insurance offers an alternative method for making a charitable gift to the McLaren Foundation. For example, a donor may:
- Give a policy that is fully paid up and take a deduction for the "present value" of the policy, as determined for tax purposes, (which generally is the approximate cash surrender value); or
- Purchase a new policy of which McLaren is designated the owner and beneficiary.
Certain gifts of life insurance require approval by the McLaren Foundation Board