Life Insurance
Making a gift of life insurance is simple and cost-effective. To make a charitable gift from life insurance add the Grand Rapids Community Foundation as a primary, secondary or contingent beneficiary to your policy. A contingent beneficiary means the Community Foundation will receive what's left from the policy after taxes and other expenses are paid.
Donors can give the Community Foundation a paid-up policy which is eligible for a tax deduction equal to the cash value. A new policy may also be purchased specifically for charitable purposes. By naming the Foundation as the owner and beneficiary of the policy, the premiums paid on the policy are tax deductible.
To learn more about this planned giving option, please call a member of the Foundation's development team at 616.454.1751.© Grand Rapids Community Foundation - 185 Oakes Street SW - Grand Rapids, Michigan 49503 - 616.454.1751
