PLANNED GIVING: Gifts of insurance and retirement assets

Did you know that you can give your life insurance policy to us today and receive a charitable income tax deduction?

Live insurance can be a useful way to make a substantial gift to The Fuller Center for Housing for a relatively low basic cost. You can use a paid-up policy you no longer need or purchase a new policy to make your gift.

Here are a few examples of charitable gift-giving opportunities using life insurance:

THE FULLER CENTER AS BENEFICIARY: You can name The Fuller Center for Housing as the beneficiary of a life insurance policy while retaining ownership or the policy and access to the cash value during your lifetime. However, because you retain ownership and can change the beneficiary, no income tax charitable deduction is allowed for the value of the policy.

SURVIVORSHIP LIFE INSURANCE: Also known as “second-to-die insurance,” the lives of two people are covered under this form. When the second insured dies, the policy’s benefits can be payable directly to The Fuller Center. This form of life insurance is less expensive than others, enabling you to make a larger charitable gift than you might otherwise consider.

THE FULLER CENTER AS OWNER: If you assign a paid-up insurance policy to The Fuller Center as its owner, you can claim a federal income tax charitable deduction for the policy’s fair market value or the net premiums paid, whichever is less. If the policy is not paid in full, your subsequent premium payments on behalf of The Fuller Center are also deductible. Or, you can make annual contributions directly to The Fuller Center that enable us to pay subsequent premiums.

For more information contact President David Snell at or 229-924-2900.


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