Connie Maxwell Children's Home

Providing A Future For The Children Of Tomorrow

Gifts of Life Insurance

Many of us have one or more life insurance policies. Life insurance is traditionally purchased for a variety of reasons - to provide security for loved ones, as a time honored savings plan, or as a means to provide funds expected to be needed for the payment of taxes and other estate settlement expenses.

Life insurance is an especially flexible planning tool that can be used to meet a variety of personal financial needs. Many have been pleased to discover that their life insurance can offer convenient ways to fund meaningful charitable gifts as well.

There are several methods one can choose to give through life insurance:

• Name a charitable recipient as beneficiary (primary, secondary, or final) of a policy you own.

• Purchase a new policy for a charitable gift (convenient & tax-efficient).

• Give a paid-up policy you already own by changing the owner and beneficiary.

• Give a policy on which you are still paying premiums.

• Buy a policy benefiting your heirs to replace money or property you have already given to charity.

• If it is more advantageous, purchase a life insurance policy on the life of another person. (This is an excellent way to give life insurance when you don't personally qualify for it.)

• Assign policy dividends to charitable interests.

  As mentioned on the preceding page, life insurance offers tremendous flexibility when included in one's long-range financial & estate planning. Below is a list of some of the benefits:

  

  1. A life insurance gift is immediate.

  2. A life insurance gift is easy to make.

  3. A life insurance gift is private.

  4. A life insurance gift is economical.

  5. A life insurance gift is convenient.

  6. A life insurance gift is flexible.

     In conclusion, charitable giving and life insurance have gone hand-in-hand for many years. Today, as an asset owned by the vast majority of American families, life insurance can offer a wonderful way for an individual to carry out his or her charitable intentions.

     If you would like additional information on this or any other type of giving, Please call Eric Taylor, Director of Planned Giving, at 1-800-868-2624 or e-mail Eric by clicking on the small envelope here .

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