Make a Gift of Life Insurance
For many people, life insurance policies are less important later in life when financial obligations such as the cost of raising and educating children and paying a mortgage tend to decrease. This makes a gift of life insurance an excellent planned giving vehicle. It enables supporters to leverage relatively modest premium payments into a significant contribution toward Lambda Legal’s fight for equality.
To make a gift of life insurance to Lambda Legal, you can name Lambda Legal the beneficiary of all, or a portion, of the proceeds of your policy or you can transfer ownership of the policy to Lambda Legal outright. You can also name Lambda Legal as the contingent beneficiary of your policy or name a charitable remainder trust the beneficiary.
TAX BENEFITS: When you donate your life insurance policy to Lambda Legal you may be able to claim an immediate income tax deduction for the current value of the policy and you may be able to deduct your future premium payments.
This information is not intended as legal advice. For more information about life-planning vehicles and making a planned gift to Lambda Legal, be sure to consult with a professional who is familiar with the laws in your state. For help finding a professional in your area, contact our Senior Director of Legacy Giving and Member Services, Thai Pham, at 212-809-8585 or [email protected].