Make a Gift of Life Insurance to Wild at Heart Horse Rescue
Life insurance is designed to help you provide support to those you want to protect financially after you’re gone. The beneficiary of your life insurance policy can be a family member or close friend. It can also be a charitable organization.
There are several ways you can make a gift of life insurance to Wild at Heart Horse Rescue.
If you’re interested in gifting your life insurance to Wild at Heart Horse Rescue, you can designate the rescue as the beneficiary of all or part of the policy proceeds. This is a cost-effective option that keeps the insurance proceeds out of probate. Your estate may be able to save substantial taxes because up to 100% of the proceeds received by Wild at Heart Horse Rescue may qualify for an estate tax deduction. Saving money from your estate means more is left for your heirs.
Your insurance carrier can provide you with the form needed for this. You can name multiple beneficiaries, or you can name Wild at Heart Horse Rescue as either primary beneficiary or contingent beneficiary, which means the rescue would inherit the assets if your primary beneficiary doesn’t survive you.
Purchase a New Policy.
Another option is to purchase a new life insurance policy, designating Wild at Heart Horse Rescue as the owner. The premiums you pay after the policy is assigned are tax deductible. As you make payments that are low, you’re building a gift that can provide care for rescued horses in the future.
What to do when you have a paid up policy you no longer need.
A great option if you have a paid up policy you no longer have a need for is to assign it to Wild at Heart Horse Rescue. You’ll get a tax deduction that’s equal to the replacement cost of the policy. This may be a good choice for you if your primary beneficiary predeceases you. It can be a comfort to know you’re making a difference in the lives of horses who need to be rehabilitated, retrained or rehomed.
A life insurance policy purchased to protect a business is no longer needed if the business has closed or you’ve retired. This type of policy can be donated to Wild at Heart Horse Rescue so it can be sold. The money obtained from the sale can be used to help fund the rescue mission of Wild at Heart Horse Rescue.
Gifting life insurance to Wild at Heart Horse Rescue involves little effort or paperwork. You have the option of changing your mind and your beneficiaries at any time.
Leave a Legacy That Makes a Difference
Talk to your insurance provider to find out more about options on making a gift of your life insurance. You can name Wild at Heart Horse Rescue as a full, partial or contingent beneficiary of any policy. Your gift of life insurance can make a lasting difference to the horses in need of rehabilitation and care at Wild at Heart Horse Rescue.