A gift of life insurance that you no longer need can be an easy way for you to provide generous support to Friends of Yad Sarah.
A Gift Of Life Insurance Could Be Right For You If:
- Your life insurance policy is paid up or has substantial cash value.
- You have no loan outstanding against the policy.
- Your family is well-provided for by other means.
- You would like to make a generous gift to Yad Sarah.
How It Works
Option 1: You Give Your Policy To Yad Sarah.
As the policy owner, Yad Sarah will either cash in your policy and use the proceeds, or maintain the policy until it ends and then receive its face amount. Your benefits will include:
- An immediate income tax charitable deduction for the value of your policy.
- No change in your cash flow.
- The satisfaction of making a generous gift to Yad Sarah.
Option 2: You Designate Friends Of Yad Sarah As A Beneficiary Of Your Policy.
When your policy ends, Yad Sarah will receive some or all of your policy's death benefit, as you have designated. Your benefits will include:
- The death benefit of your policy will not be included in your estate, which may save estate tax if your estate exceeds the applicable exemption amount.
- No change in your cash flow.
- The satisfaction of making a generous gift to Yad Sarah.
This option offers the additional benefit that you can change your mind about your gift at any time should circumstances in your life change.
