A charitable gift annuity is a great way to make a gift to your favorite charity. With this vehicle, you can gift your cash or property to your favorite charity and they will promise to make fixed payments to you for life at a rate based on your age.more
A gift of your life insurance policy is an excellent way to make a gift to Gift Planning Services. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Gift Planning Services. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include Gift Planning Services as the beneficiary of your policy.
If you have any questions about making a gift of a life insurance policy, please contact us. We would be happy to answer questions that you have.
You can also designate Gift Planning Services as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. Your estate may benefit from an estate tax charitable deduction.
Your deduction for the gift of life insurance will depend on whether the policy has increased in value above the premiums and whether the policy is paid up or there are remaining payments to be made.