Gifts of Life Insurance - New Policy: The Details

Donate a policy, take a deduction, deduct future premium payments, if any, and make an extraordinary gift. You’ll also get the proceeds out of your taxable estate.

Your financial projections may indicate that you won't accumulate large blocks of capital during your lifetime, or that your family will have first call on your estate. You want to make a significant gift to the National Audubon Society, but wonder if you'll find the resources to do so.

Life insurance uses manageable payments made from income — the premiums — to create a large future gift for Audubon.  You can build our long-term financial strength without diminishing your own.

Make the gift by taking out a new policy on your life, naming the National Audubon Society, Inc. the irrevocable owner as well as beneficiary. Naming Audubon as the owner makes the gift complete and IRS recognizes the premium payments as a tax deductible gift. Audubon will receive the premium notices, and you will make annual donations to offset our payments, which are tax-deductible.

An alternative to creating a new life insurance policy is to donate an existing policy. This gift will generate an initial tax deduction. If premiums are still payable, we will ask you to make tax-deductible contributions offsetting our payment of those premiums. We do reserve the right to keep such a policy in force during your lifetime, or to terminate it sooner for its cash-surrender value.

Please contact us so that we can assist you through every step of the process.

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