Charitable Giving

Charitable Giving

Maximize Your Charitable Donations with Life Insurance

Did you know you can magnify your charitable giving efforts with life insurance? With charitable giving life insurance, you can help provide the necessary resources for the future of the charity without significant drawdown of your current assets. As a donor, you pay the premium on the life insurance policy with the intention that the proceeds from the policy will be paid to the charity or charities of your choosing.

Here are examples of how life insurance can benefit your charitable cause:

  • charity as a beneficiary;
  • gift of an existing policy;
  • purchase of a new policy;
  • annual gifts through a policy; and
  • final wishes

Key Considerations

If you’re planning to make a charitable gift of a life insurance policy, be sure to consider:

  • Do you have a track record of giving to the charity? If there is no track record, as a donor, you could be limited in the amount of the life insurance donation.
  • Since the gift being considered is a life insurance policy, the policy would be subject to underwriting approval. Any rating on a life insurance policy will impact the amount of life insurance purchased with the allocated premium.

Why CBIZ Life Insurance Solutions?

Our Advanced Planning Team will work directly with our life insurance carriers to find the best possible charitable giving solution for you. If any complications arise, we will negotiate any limits due to a lack of charitable giving history. Let CBIZ Life Insurance Solutions help you reach your philanthropic goals with life insurance.