A simple way to give a significant gift
Giving through life insurance is one of the simplest ways to make a significant contribution to your community and establish your legacy of giving. You can make a gift when life insurance is no longer needed for personal financial wealth replacement. You may receive a number of tax benefits, including reduced income taxes and estate taxes. And, if you choose to continue paying premiums through The Community Foundation, you will be entitled to a charitable contribution of up to 50 percent of your adjusted gross income.You can replace the dollar value of an asset transferred to your community foundation with a life insurance policy. Or you can use regular payments from a Charitable Gift Annuity or Charitable Remainder Trust to establish an irrevocable life insurance trust. The trust can purchase insurance on your life to benefit your heirs. This way, you can make a gift to The Community Foundation and replace the value of this gift within your estate with life insurance proceeds.