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Gifts of Life Insurance

Do you have a life insurance policy you no longer need? Perhaps your other assets have grown to provide the protection you require and the insurance policy lies forgotten in a safety deposit box?

Your insurance policy could make a wonderful charitable gift to New Jersey Audubon Society.

Instead of giving cash or stock, you could sign over your paid-up life insurance policy to New Jersey Audubon and, generally speaking, receive a charitable income tax deduction for the replacement value of the policy.  New Jersey Audubon Society could then cash in the policy and put the dollars to work right away.

If you have an existing life insurance policy in which you are still making premium payments on, you can make the society the owner and beneficiary, the policy would be retained, and you would get charitable deductions for future premiums that you make towards the policy.

Another popular alternative is to take an existing life insurance policy and designate New Jersey Audubon Society a primary beneficiary, or you can designate New Jersey Audubon Society as a secondary beneficiary if the primary beneficiary or beneficiaries predeceases you.

If you have insurance you may like to contribute, or if you are currently paying premiums on a policy and want to discover how this policy might work as a gift to New Jersey Audubon Society, contact Kimberly Armenti, Vice President of Development and Communications, at 908-396-6005.   He would be pleased to describe the various ways insurance can be used prudently to make a planned gift.  As with any planned gift, it is also recommended that you consult with a qualified estate planner, legal or tax advisor before making such a contribution, to be certain that this method of giving is best for you.

Return to the Ways of Giving page.