Life Insurance

Life insurance adds great flexibility to your charitable giving plans.

Do you own life insurance policies that are no longer needed?
Examples:

• Protection for a spouse or a child who is now financially independent.
• Insured education funds for children who have now completed their training.
• Protection for a business in which protection is no longer required.
• Provision for estate taxes not needed because your estate is now exempt from taxes. (More than 90% of estates may now be exempt.)

Here are some great ways to give life insurance to Greater Europe Mission:

• Give a paid-up policy that you already own by changing the owner and beneficiary to Greater Europe Mission.
• Name Greater Europe Mission as the owner and primary beneficiary of a policy on which you are still paying premiums.
• Name Greater Europe Mission as a charitable recipient of a policy you own––as a primary beneficiary, secondary beneficiary, or final beneficiary.
• Purchase a new policy, naming Greater Europe Mission as the primary beneficiary, or transfer ownership to Greater Europe Mission.

The benefits of making a life-insurance gift:

• The gift and related tax benefits are immediate.
• Gifted cash values of paid-up policies can be deductible for up to 50% of your adjusted gross income, and amounts over 50% can be carried forward.
• Future premiums can be deductible when ownership of a policy is transferred to Greater Europe Mission.
• Your confidentiality is assured. Life insurance is not a matter of public record.

For further information and assistance, please contact Steve Hoffman of our Gift and Estate Design services.

Phone: 1-800-436-4488
Email: shoffman@gemission.com

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