Gifts of Life Insurance
There are two important ways to give life insurance to Harvest Aviation:
- Life insurance beneficiary
Simply naming Harvest as the beneficiary of a life insurance policy ensures that at the death of the insured, the death benefit goes to Harvest as a charitable gift. Of course, donors may make arrangements with us to target their insurance gift to specific purposes or programs if they so desire. (Note: any premium payments that are made after this beneficiary designation are NOT tax deductible as charitable gifts.)
- Life insurance policy owner
A donor may name Harvest as the owner and beneficiary of a life insurance policy. In this situation, if there are premium payments yet due on the policy, the donor may deduct the value of those premium payments as separate charitable gifts as they are made each payment period.