By Alan Mark Ezagui, MHCA
Deputy Director of Development
Life insurance is an asset you may not think of donating to AACAP until you understand how powerful, practical and simple it can be. It can be used to create a much greater philanthropic impact at AACAP than you might have thought possible.
Three Ways to Gift Life Insurance to AACAP
- Designate AACAP as beneficiary of your current life insurance policy; or
- Purchase a new policy and name AACAP as the owner and beneficiary. You will then be asked to contribute the equivalent of the annual premium to AACAP. This premium contribution is tax-deductible and is used by AACAP to pay the insurance premium; or
- Give AACAP a fully paid life insurance policy that your family obligations no longer require.
When You Designate AACAP as Beneficiary
You can create a wonderful legacy by designating AACAP as a partial or full beneficiary of an existing policy. You will retain ownership of the policy and the flexibility to change your beneficiary designation later if your circumstances change, but any policy proceeds distributed to AACAP will be exempt from estate tax in your estate and create a wonderful legacy at comparatively low cost.
To learn more, or tell us of your life insurance plans:
Please contact Development at firstname.lastname@example.org or 202-966-7300 x140.