Often times people will choose to give back to certain organizations that have had a direct impact on their lives or stands for something that they find extremely important. If you currently give or plan on giving an annual gift to such an organization you may want to see if using that annual contribution to pay for a life insurance policy would benefit the organization more. Using life insurance policies for gift planning can leverage your current contribution to pay out a much larger donation. For an example, a 60 year-old in good health making a $1,500 annual donation can purchase a $100,000 permanent Life Insurance policy. Plus if your current contributions are considered a charitable gift, if set up correctly in a life insurance plan, then the premium payments can have the same tax benefits.

Certain organizations, such as the James B. Edwards College of Dental Medicine at (MUSC), will actually give current recognition for the future benefit, if the policy meets their criteria. In order to see if you could qualify for such a policy or to see if your organization would accept a Life Insurance policy as a charitable gift, please contact one of our Insurance Specialist at Withers Crest by clicking the link below.

http://witherscrest.com/quote.php