Here are three ways you can use your life insurance to support The Foundation and the Jewish community.
1. Let it go. A gift of a paid-up life insurance policy makes an excellent charitable gift. We will either take a policy's cash value or retain the policy for its ultimate death benefit. You receive a current deduction amounting to the cost of replacing the policy with a single premium life insurance policy at your current age (but not more than you've invested in the policy).
2. Start anew. You can take out a new policy with us as owner and beneficiary. Your continuing premium payments, usually given directly to the Jewish Community Foundation of Los Angeles, are income tax-deductible.
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Read more about how you can benefit by giving life insurance. |
3. Pay the premiums. You can also donate a policy you already own that isn't paid-up and make annual gifts that allow us to keep up the premiums. If you should lapse on the payments, we can either receive the surrender value of the policy, buy a smaller, yet paid-up policy with the cash value or continue the premium payments for the life of the insured.
Gifts of life insurance are usually deductible up to 50 percent of your adjusted gross income. If necessary, you may carry over any unused deduction for up to five additional years.
Contact Us
We would be happy to assist you in your charitable planning. Contact our Development Office at 323-761-8704 or development@jewishfoundationla.org to learn more about options that may work for you.
These articles are designed to provide accurate and authoritative information in regard to the subject matter covered. It is provided with the understanding that the editor and contributors are not engaged in rendering legal, accounting or other professional services. Therefore, the contents should not be applied as legal or financial advice.