Life Insurance

Many people do not realize how convenient and welcome a gift of life insurance can be.

Life insurance needs change as life goes on. Children become self-sufficient and investments may provide unexpected income and security. After such developments, some life insurance coverage may no longer be needed for the reason it was originally purchased.

Also, because federal law now exempts many estates from taxation, life insurance purchased to cover estate taxes may be obsolete .

One of the simplest ways to make a significant gift in the future is to name a charitable beneficiary to receive all or a portion of the proceeds of a policy which is no longer needed for family protection.

Another way to make a gift of insurance is to take out a new policy, naming a favorite cause or causes as beneficiary or co-beneficiary. Many find this a convenient way to make a special gift "on the installment plan." You can assure a gift which may be much larger than its cost.