Life Insurance: A Meaningful Contribution to Empower Our Mission
When the original intentions of a life insurance policy no longer align with your current circumstances—such as grown children or secured spousal finances—it presents a valuable opportunity to stand behind our cause. There are three seamless methods through which you can extend your support to the Cancer Support Community of Greater Ann Arbor:
– Designate Us as a Beneficiary: Updating your beneficiary designation form is all it takes to create a significant impact. By naming us as the primary beneficiary, you can allocate a specific percentage or amount from the policy. Alternatively, we can be designated as the contingent beneficiary, ensuring that the remaining policy balance reaches us if the primary beneficiary does not survive.
– Gift Your Existing Policy: Transferring ownership and beneficiary status of an existing policy to us holds dual benefits. You become eligible for a federal income tax charitable deduction when you choose to itemize your taxes. Furthermore, as you continue to pay premiums, each contribution becomes tax-deductible, serving as a charitable gift on your tax records.
– Donate a New Policy: Embark on a journey of giving by initiating a fresh policy, where the Cancer Support Community of Greater Ann Arbor becomes both the owner and beneficiary. This avenue is particularly appealing to younger donors. Whether you opt for a lump-sum premium or annual payments, each installment qualifies as a tax-deductible charitable contribution, amplifying the impact of your generosity on your tax returns.
Your life insurance holds the power to shape a future where cancer patients and their families find unwavering support. Join us in our mission by exploring these streamlined pathways of giving.