Amplify Your Charitable Gifts While Reducing Taxes

Ron Boynar January 4, 2016

Have you ever wished to make a “sizable” donation to your college alma mater, a favorite charity, or other non-profit organization, but feel you might lack the financial resources?

Individuals can invest their money in tax-free life insurance programs to significantly amplify their charitable gift amount at the time of death. Other benefits of this strategy include:

    • Leverage: the death benefits exceed the premiums paid; seven to eight times at life expectancy when you factor in the charitable tax-deduction.
    • Prompt settlement: policy proceeds are paid at the insured’s death.
    • Flexibility: in most cases, the policy owner can change the timing and amount of premium payments; the death benefit amount; and beneficiaries. In addition, the policy owner can adjust the policy to meet changing objectives and tax laws, subject to terms of the policy.
    • Annual Tax Deductions: the donor an amount equal to the annual premium to the charity and claims the contribution as an annual tax deduction.

If your life’s financial goals includes charitable gift giving, then it’s likely a good time to review current policies and discuss options which may improve cost or enhance current benefit.

Click HERE to read more about charitable gifting or contact me to discuss what we can do to further help you Protect the Net.