Charitable Gift Planning
Gifts of Life Insurance - Paid-Up Policy
How It Works
- You transfer ownership of a paid-up life insurance policy to Kentucky Baptist Foundation for an endowment fund or deferred gift annuity benefiting cause(s) you have named.
- Kentucky Baptist Foundation cashes in the policy now or maintains it and receives the death benefit later.
- You receive gift credit and an immediate income tax deduction for the cash surrender value of the policy.
- In some cases, you can use the cash value in your policy to fund a life-income gift, such as a deferred gift annuity.
- You gain the satisfaction of making a significant gift to charitable causes important to you without adversely affecting your cash flow.
- More detail on gifts of life insurance - paid-up policy
- Fequently asked questions on gifts of life insurance - paid-up policy
- Contact us so we can assist you through every step.
Kentucky Baptist Foundation
P.O. Box 436389
Louisville KY 40253-6389
502-489-3533 | Fax: 502-489-3564