Many people overlook life insurance as a giving option, but it’s an easy way to make a difference at our organization. Plus, a gift of life insurance has the following four perks.
Below is 4 reasons you might consider a gift of life insurance to our organization.
1. Cost-Efficient
Life insurance allows you to make a significant gift even if your means are limited today. You can leave a gift of sizable proportions by making small premium payments each year for a limited number of years.
2. Tax-Beneficial
You may receive a federal income tax charitable deduction for an existing policy. With our organization named the owner and beneficiary, your premium payments may be deductible as charitable gifts for a new policy.
3. Secure and Confidential
Your life insurance policy is a contract and therefore cannot be changed by unhappy heirs. If you make our organization the owner and beneficiary of the policy now, it will not be included in your probate estate and, therefore, remain confidential.
4. Helpful to Our Mission
Life insurance gives you the option to make a gift with an asset other than cash, helping you make a more significant impact than you may have ever thought possible.
Life Insurance Policies You Can Gift
- A recently issued policy
- An existing policy in premium-paying mode
- A paid-up life insurance policy