Life Insurance
The Benefit of Giving Through Life Insurance
Giving through a life insurance policy can be beneficial by:
- Saving you money in taxes - the gift is immediate, which gives you immediate tax deductions
- Requiring no out-of-pocket expense
- Allowing you to make a larger contribution due to its long term venue, which accumulates small amounts of money over time
- Helping you avoid estate problems by naming Texas Physicians Resource Council as a beneficiary
- Designing it to meet your giving desires and assuring complete confidentiality
How to Give Through Life Insurance
Life insurance is an asset that can add flexibility to your charitable giving plans.
Sometimes life changes alter your life insurance needs. For example, you may currently own previously purchased policies that are no longer necessary, which could play a major role in your charitable giving plans.
Examples of unnecessary policies include:
- 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.
*If you are interested in giving through your life insurance, please contact Mark Swafford at 972-423-8889 x101.
Please note: You can reach our office Monday through Friday between the hours of 9:00 a.m.- 5:30 p.m. by calling 972-423-8889.
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