Did you know that by donating life insurance you can make a larger gift to HIAS?
Video: Learn more about Life Insurance
If you have an existing life insurance policy that is no longer needed to protect your children or your spouse, you can name HIAS as the policy's owner and beneficiary. Life insurance can represent a significant gift to HIAS at a relatively low cost to you. There are two ways to make a gift of life insurance:
Contribute an existing policy — you have a policy on your life transferred into HIAS' ownership and as the irrevocable beneficiary; if there are additional periodic premium payments to be made, you would make additional contributions to us from time to time from which we may elect to pay the premiums on the policy HIAS owns on your life. All contributions made by a donor which are later used by HIAS to pay premiums on owned policies are deductible by the donor as charitable contributions.
Acquire a new policy — with HIAS named as owner/beneficiary and you as insured; if the policy is not fully paid for at the time it is contributed, then subsequent premium payments will be made by us from deductible contributions made by you periodically over the life of the policy.
When you choose to name HIAS as the owner of an existing policy, you generate an immediate income tax charitable deduction for the cash surrender value of the policy.
Have you already prepared a gift of life insurance naming HIAS as a beneficiary? Let us know by completing our Declaration of Intent.