Gifts of Insurance
Details
What is a gift of Insurance?
Most non-profit organizations pay too much for insurance. So making the donation of insurance is appreciated and impactful. You can donate life insurance by dedicating the organization as the beneficiary. You can choose this organization to be a beneficiary of your life insurance proceeds, annuity or retirement accounts. Designating a charity as your beneficiary could lower the value of your estate, which may reduce estate taxes.
How does gifts of Insurance work?
- Snowbird will receive the entire face amount of the policy upon the death of the insured.
- Name Snowbird as the beneficiary of a policy.
- If you own a policy, provide the Tax ID number of Snowbird and let Snowbird know so that we how who to contact when you pass.
Benefits
- You still own the policy.
- You maintain access to any cash value accumulation.
- You always have the option to change the beneficiary.
Thrivent Financial
As you explore your planned giving options, you should meet with a financial advisor who can help you weigh the pros and cons of different approaches. If you don’t already have an advisor, we often connect legacy donors with the team at Thrivent to discuss their wisest options. With a clear picture of your finances (and the broad range of solutions available), you’ll be well-positioned to make an informed decision.
Thrivent is a holistic financial service organization that provides financial advice, investments, insurance, banking and generosity programs to help clients make the most of resources they’ve been given.