Gift of Life Insurance

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How could I benefit by giving life insurance?

If you'd like a simple and relatively inexpensive way to make a substantial gift to the Iowa Natural Heritage Foundation, life insurance may help you to give more than you could otherwise afford.

You can make INHF the owner and beneficiary of a paid-up policy you now own or a new policy you purchase, or you can make INHF one of the beneficiaries of an existing policy.

For example, John Brown owns a paid-up $20,000 policy with $8,000 cash value. This policy is no longer needed for his family's financial future. He can name INHF the owner and beneficiary of the policy and may receive an $8,000 charitable deduction.

Another example: Sue Smith names INHF as a $40,000 partial beneficiary of a $200,000 insurance policy on her life. She does not receive a current tax deduction because the beneficiary can be changed at any time...but her executor will be able to take a federal estate tax deduction for the entire $40,000 gift.

Where do I begin?

Discuss the gift with the Foundation staff. They can explain the various ways you can give using life insurance.
Talk to your insurance agent and financial adviser.

If you would like more information on planned giving through life insurance, please e-mail Cheri Grauer, INHF Gift Plannerat the Iowa Natural Heritage Foundation or call (800) 475-1846.

While Iowa Natural Heritage Foundation makes every effort to give you accurate information, you should also consult your trusted professionals for legal, financial, insurance, or estate planning advice. The INHF staff are not engaged in rendering legal, accounting, or other professional services.

Federal Tax ID #42-1127544