Giving Through Life Insurance

Giving through Life Insurance

Friends of modest means are often surprised to find that there is a way to make a substantial legacy gift to Quakerism by using life insurance as a charitable tool. Instead of signing over an existing policy, buy a new one and make the premium payments tax-deductible contributions. It's easier than you think, and you may be pleasantly surprised at how your modest annual premium contributions will multiply into a substantial gift.

Benefits for donors

A gift of a life insurance policy often allows a donor to make a substantially larger charitable gift than would otherwise be possible.
Charitable life insurance gifts generate tax deductions based on the premium payments.
The donor’s estate remains undiminished in spite of making a substantial charitable gift.
Donors receive the satisfaction of knowing their gifts will help support their favorite charitable organizations long after they are gone.

Benefits for charities

Gifts of life insurance are a critical source of future income that can be planned for and depended upon.
Modest annual gifts are multiplied into substantial support, opening the door to major gifts from many more donors.
The charity receives the payment at the donor’s death in cash, undiluted by administrative fees and not delayed by probate.
The gift is made during the donor’s lifetime, enabling the charity to recognize and thank the donor.

To learn more about supporting FGC through this option, contact Traci Hjelt Sullivan, 215-561-1700 ext 3004,

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Friends General Conference will be glad to answer any questions you may have regarding planned giving.

FGC is not a financial, legal or tax advisor. Please consult with your own advisors regarding your financial, legal, or tax needs to make certain that a contemplated gift fits well into your overall circumstances and planning. The discussion and examples in this section are for illustrative and educational purposes only and are not a solicitation or offer.

Revised 8-8-2016