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Do you own a life insurance policy that you no longer need?
Perhaps you initially purchased the policy to ensure your family's financial stability or to pay college tuition for children that are now self-sufficient. Have your circumstances changed? Good things happen when you assign ownership of your existing life insurance policy to ORT America. You will receive a current income tax deduction and possible future deductions if you continue to pay any remaining premiums. If you use appreciated stock to make these premium payments, you will reap additional tax savings by avoiding capital gain taxes.
Are you a younger person who would like to make a big gift at a small cost?
People in their 20s, 30s and 40s can often purchase life insurance at very low cost. When you make ORT America the owner and beneficiary of the policy, your gift may be tax deductible. Gifts of life insurance allow you to give a significant gift, at low cost, without reducing the projected inheritance of your family members.
Best of all, your gift of life insurance will perpetuate your giving for generations to come and help ORT provide programs for generations to come.
ORT America has several Planned Giving programs that can be tailored to your individual financial needs. If you are interested in discussing this very important topic, please contact Senior Director of Planned Giving Hugh Williams at 800.519.2678, ext. 226, or e-mail plannedgiving@ortamerica.org.
If you are interested in developing a personalized gift plan and want to discover which gift options are right for you click here and follow ORT’s Gift Guide.
This information was prepared as an educational service and is not intended as legal, tax or financial advice. Donors should obtain legal, tax and financial opinions from their own professional advisors.
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