Donate an Insurance Policy
A gift of a life insurance policy you no longer need makes a perfect year-end gift. To qualify as a deductible gift, the IIT Madras Foundation must become the policy owner. For most types of insurance policies, your tax deduction is usually the lesser of the cost basis or the fair market value of the policy.
Please fill in the information below and Alison Ferrell will contact you.
IITM foundation fee disclosures
IITM Foundation Board has approved the establishment of a Fee for all Project Funding Remittances to IITM effective February 2017.
This Fee is on a sliding scale starting at 5% and stepped down by 1% steps as shown in the table below, with a cap for funds above $2Million.
IIT Madras has committed to make up this fee, when the Funds are received and prior to deployment.
- $0 to $250K — 5% fee (range $0 to $12.5K)
- $250K to $500K — 4% fee (range $12.5K to $20K)
- $500K to $1M — 3% fee (range $20K to $30K)
- $1M to $2M — 2% fee (range $30K to $40K)
- More than $2M — 2% (capped at $40K)