Making the Society a beneficiary or owner of a life insurance policy is an easy and inexpensive way to make a significant future gift to the Society.
How It Works:
- If the donor is making a purchase of a new life insurance policy, the Society can be established as the irrevocable owner and beneficiary, and the initial and future premiums are tax deductible.
- If the donor has an existing policy and names the Society as the irrevocable owner and beneficiary, the donor is entitled to an income tax deduction equal to the cash value of the policy, and future premiums are tax deductible.
- In either case, the Society is assured a sum of cash at the end of the donor’s life.
- The donor’s ability to provide for a significant future gift to the Society for a relatively small annual tax deductible premium payments
- Ease of establishing and administering
Banner photo by Elliot Mandel