Life Insurance allows you to make a present, rather than a future gift, which may be much larger than you think might otherwise be possible. Gifts of insurance are generally affordable, especially for younger donors.
You name any IT’S YOUR LEGACY partners as a beneficiary of a new life insurance policy. If the gift is irrevocable and any IT’S YOUR LEGACY partner is the owner and beneficiary of the policy, you are entitled to a charitable income tax deduction for all premiums paid. Existing policies may also be contributed, and you are entitled to a charitable income tax deduction for an amount essentially equivalent to the cash value of the policy.
• Many (especially young people) find that insurance is an ideal way to create an endowment larger than they could otherwise afford
• Premiums paid are tax-deductible
• You can honor or remember a loved one, or create your Jewish legacy in your own name