A university had a portfolio of donated life insurance policies. Two of the policies in their portfolio were a $1,000,000 life insurance policy from Prudential insuring a 79 year old male. The annual premiums were $60,000 with a cash surrender value of only $8,036. The second a $500,000 life insurance policy from West Coast Life insuring an 81 year old female. The annual premiums were $51,000 with no cash surrender value.