Life insurance may be one of your many assets. It’s an asset that could also add flexibility to your charitable giving plans.

Sometimes life changes alter your life insurance needs. You may currently own previously purchased policies that are no longer necessary. These policies could play a major role in your charitable giving plans.

Unnecessary Policy Examples

• A policy on your life to protect a spouse for whom it is no longer necessary, or a child who is now financially independent
• A policy bought to guarantee that money will be available for your children’s education, but their education was paid by some other means
• A policy purchased to protect a business that no longer exists or no longer needs protection

These life insurance policies may be considered “obsolete” and don’t need to be held. While the policies may not benefit you for the purpose for which they were originally intended, they could assist you in meeting other goals.

Benefits of Donating through Life Insurance

• The gift is immediate, which also gives you immediate tax deductions
• Your confidentiality is assured, as life insurance is not a matter of public record
• A gift of life insurance is flexible and can be designed to meet your giving desires

If you are interested in making a charitable donation through your life insurance, please contact Frank Baldwin, Executive Director, (765) 288-9122, ext. 101, or email fbaldwin@farmhousenow.tk to discuss the details.

Please note, individual financial circumstances will vary. As with all tax and estate planning, please consult your attorney or estate specialist.