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A Gift of Life Insurance
Donor names charitable organization as beneficiary of life insurance policy. Benefits:
Life Insurance (charitable organization as owner): Donor irrevocably assigns life insurance policy to charitable organization. Each year donor contributes annual premium amount to organization to allow it to pay subsequent premiums. Benefits:
Life Insurance (wealth replacement): Donor has transferred property to charitable organization and uses tax savings produced by the income tax deduction to pay premiums on life insurance policy, the proceeds of which will be roughly equivalent to the value of the gifted property. Benefits:
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