Life Insurance in a Gift Plan (LIGP)
Life insurance is a valuable gift option that is often overlooked. Life insurance is frequently purchased as part of an overall financial or estate plan. As circumstances in life change, the need for insurance may diminish. A gift of a paid-up policy (or any life insurance policy for that matter) can provide tremendous benefits to the NISS Foundation on the donor’s behalf and leave a legacy otherwise unavailable to them while they were alive.
The typical donor:
- Needs assets available during life.
- Has paid into the policy for several years.
- Wants to insure completion of a significant gift.
- Uses the gift of insurance as part of an overall financial plan.
- Desires to leave a legacy with a death benefit from a life insurance policy.
Gifts features and benefits:
- Immediate income tax deduction available to 50 percent of adjusted gross income (depends on the type of policy used).
- Flexibility in completing various giving plans.
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