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Gifts of Life Insurance
(Complete gift description)
When our children are young, parents do what they must to protect them. Often times, this includes purchasing a life insurance policy to assist them if something happens to the parents. After the children are grown, the policies take a back seat in our minds.
Here’s an idea: use this “buried treasure” as a charitable asset. Indeed, gifts of life insurance offer you an opportunity to make a contribution to the National Society Daughters of the American Revolution, perhaps even more than you ever thought possible! Unfortunately, it is often an overlooked and underestimated gift.
- You may be surprised to learn that your surplus, paid-up life insurance policies can be used to fund a gift to NSDAR. If, for instance, you acquired several life insurance policies when your children were younger, the coverage may be more than you need.
Tax Benefit: You can deduct the value of the policy you contribute. NSDAR or your financial or legal advisors can guide you in calculating this amount.
- Alternately, your annual income may be healthy, but you know that ongoing family obligations will make it difficult for you to accumulate capital. You want to make a significant gift to NSDAR but wonder how you will gather the resources to do so. If you take out a new life insurance policy naming NSDAR as owner and beneficiary, you can deliver a large benefit to the National Society from income rather than capital.
Tax Benefit: You will make deductible annual gifts to NSDAR in the amount of the premium payments and we will, in turn, pay the premiums to the insurer.
- Or you can also transfer ownership of an existing policy which is not yet paid up.
Tax Benefit: Your charitable deduction will be determined in the same way as if you had given us a paid-up policy. We reserve the right to surrender your policy or keep it in force. You would make deductible gifts to offset the premium payments if we elect to continue the policy.
The National Society Daughters of the American Revolution reserves the right to cash in any policy it owns at any time at its sole discretion. Of course, you may designate the National Society as the revocable beneficiary of a life insurance policy at any time. Such a designation will not, however, provide you with any immediate tax benefits.
For More Information
Email us, complete the personal illustration form, or call us at
1-800-449-1776 so that we can assist you through every step of the process.
Development Office
1776 D Street, NW
Washington, DC 20006-5392
1-800-449-1776 | Fax: 202-628-1993
E-mail: giftplanning@dar.org
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