Fiction: I can't use my life insurance policy to give to charity.

Fact: You can fund charitable giving with a life insurance policy. There are several tax and philanthropic advantages to doing so. For example, giving life insurance to a charity may allow you to make a larger gift than you otherwise could afford.

Typically, a donor makes a charity the owner and beneficiary of some type of permanent life insurance policy, but there are many ways of structuring a charitable gift involving life insurance. The option you choose will depend on your needs and the needs of the charity. You should consult a financial professional about how to structure your gift.


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