INSURANCE GIFT

An agreement between a policyholder and a life insurance company to pay death benefits and/or lifetime income to the policyholder and/or beneficiaries.

DONOR PROFILE: Anyone

AGE: All

ESTATE VALUE: All

ANNUAL INCOME: All

SUITABLE ASSETS: Any term, whole, or variable life insurance policy in which the donor names charity as owner and beneficiary of the policy.

ADVANTAGES TO DONOR: Gift of future income to charity on a preset budget basis. Current income tax deduction allowed fod for the future gify. Estate assets retained for family.

DONOR CONTROL: None; charity is named as owner and beneficiary . Donor is simply the insured.

BENEFITS TO CHARITY: Receives annual dividends. Owns increasing cash values. Receives proceeds at death of contributor.

DISPOSITION OF INCOME: Charity is absolute owner and beneficiary of the cash policy.

DISPOSITION OF PRINCIPAL: Charity has control over cash surrender values and death benefits.