Gifts of Life Insurance

Life Insurance Policy

An important but frequently overlooked role of life insurance is the one it can play in charitable gift planning. Life insurance itself can be the direct funding medium for a gift, permitting the donor to make a substantial gift (face value of policy) for a relatively modest annual outlay (i.e., the premium payment).

Life Insurance Policy

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Life Insurance to Replace Gift

Life insurance can also be used to replace an asset that has been given to IndyHumane. How it works: After a donor makes a gift to IndyHumane, the tax savings produced by the charitable deduction are used by his or her children or an irrevocable trust to purchase and pay the premiums on a life insurance policy on the donor's life. Such an arrangement can ensure that the interests of family beneficiaries will not be adversely affected.

Life Insurance to Replace Gift

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Beneficiary Designations

For additional assets not covered in your will, including (but not limited to): 401ks, IRAs, Life Insurance Policies, and Bank Accounts, you must designate a beneficiary. If you would like to name the Humane Society of Indianapolis (IndyHumane) as your beneficiary, you can use this online tool to help organize your accounts and name beneficiaries.