Make a difference
A charitable gift of life insurance is an innovative way to provide a highly leveraged endowment to the Simon Wiesenthal Center. There are several ways to gift life insurance. You may contribute a new or existing policy by transferring the policy to the Simon Wiesenthal Center and naming the Center as owner and beneficiary. There are substantial benefits to both you and the Center. The premium payments will provide you with an income tax deduction. The endowed gift to the Center will be substantially larger than the amount used to fund the insurance policy. The insurance policy proceeds pass directly to the Center outside your estate and are not subject to probate or estate taxation. Therefore, your estate will be undiminished by the gift. You may wish to add the Simon Wiesenthal Center to an existing policy as a remainder beneficiary or you can utilize the values in an existing policy to fund a more highly leveraged one. Since life insurance premiums are based or mortality rates, gifts of life insurance are extremely affordable for younger donors, affording them the opportunity to make sizable gifts.
There are various creative ways that life insurance combined with charitable trusts can be utilized as asset replacement plans.
For more information, contact:
Rabbi Meyer H. May