Charitable donations come in various forms, and one often overlooked avenue is life insurance. While life insurance primarily serves as a financial safety net for loved ones, it can also be a powerful tool to support charitable causes like the Barbara Bush Houston Literacy Foundation. Donating a life insurance policy to the Foundation can have significant “win-win” benefits for you and our charity. 

Tax Benefits: One of the most compelling advantages of gifting a life insurance policy to a charity is the potential tax benefits. Specifically, if you name a charity as your policy's beneficiary, the proceeds will not be included in your estate, potentially reducing estate taxes. 

Financial Flexibility: Life insurance donations provide a flexible way to contribute to charity. Instead of donating a lump sum, you can pay smaller premiums over time, making it more manageable for your budget. 

Reliable Funding: Life insurance donations provide charities with a reliable source of funding. The proceeds from the policy can be substantial, enabling organizations to plan and execute long-term projects and expand our reach. 

Immediate Impact: Unlike bequests or other forms of planned giving, life insurance donations provide an immediate and significant financial boost to charities. This infusion of funds can be especially crucial during times of financial uncertainty or when urgent needs arise. 

Low Administrative Burden: Compared to other types of assets, life insurance donations are relatively easy to administer for charities. The process involves receiving the policy's proceeds upon your passing, without the complexities often associated with managing property or other assets. 

We encourage you to notify us if you name the Barbara Bush Houston Literacy Foundation as a beneficiary of a life insurance policy by completing the Legacy Giving Statement of Intent Form. 

Your money matters, so make the most of it! Learn more about ways to maximize your charitable investments by contacting your financial advisor.