Gifts of life insurance can be a simple way for making a significant charitable gift, either during life or at death. There are several advantages to this gift:
- A gift of life insurance is fixed. The full amount of the gift goes to meet your charitable goals.
- Life insurance is paid quickly; it is not tied up in probate.
- Gifts of life insurance are not a matter of public record. The gift can be made in privacy if that is your desire.
- Gifts of life insurance are not complicated; your insurance agent or company will provide the forms necessary to make us owner or beneficiary.
- Gifts of a policy are tax deductible.
The following are some ways you can use a gift of life insurance to increase your support of GBSC:
- Gift of an Unneeded Policy
- Estate Planning – life insurance can make it possible to make a large gift now and insure funds for your heirs at your death
- Beneficiary Designation – you can keep ownership rights in a policy but designate GBSC as beneficiary
- Purchase of new policy – you can purchase a policy on your life, naming GBSC as the owner and beneficiary. Single or annual premiums would then be tax deductible.
Director of Institutional Advancement
(513) 721-7944 ext.1221