You can avoid paying gift taxes on amounts up to $ 14,000 if your policy is in a trust. (insure.com)
In 2015, you can give up to $ 14,000 to an unlimited number of individuals each year without paying a gift tax or even reporting the gifts. (money.stackexchange.com)
However, you might have to pay a gift tax if you contribute a large enough amount (more than $ 14,000 annually) to the account. (bettermoneyhabits.bankofamerica.com)