As time goes by and life situations change, some of us may realize that an old insurance policy, possibly taken out many years ago, is no longer needed. We may also want to extend our concern for the plight of homeless animals well beyond our lifetime, yet wonder how we can provide an affordable future gift to help animals in need.
The answer may be a gift of a new or no-longer-needed insurance policy.
Both new and existing life insurance policies may be donated to Animal Rescue, Inc. Like retirement accounts, if you name Animal Rescue, Inc. as the beneficiary of all (or a portion) of your life insurance policy, the proceeds will not be subject to probate and the gift will pass free of federal estate and gift taxes.
Additionally, if you designate Animal Rescue, Inc. as both the owner and beneficiary, you will receive a tax deduction for the present cash value of the policy and/or the future premiums you pay. You may also choose to retain ownership of the policy and name Animal Rescue, Inc. as your beneficiary.
A gift of a life insurance policy allows you to very affordably provide a significant future gift to the animals.
To name or change a beneficiary on a life insurance policy:
Contact your insurance company to obtain a Change of Beneficiary Form. If you would like to designate Animal Rescue, Inc. as a beneficiary, decide what percentage of the policy proceeds (for example, from 1% to 100%) you would like Animal Rescue, Inc. to receive and name Animal Rescue, Inc. along with that percentage on the Change of Beneficiary Form. Be sure to return the signed and completed form to your insurance company.
To learn more about gifts of life insurance policies, as well as other planned giving options, please call 717-993-3232.
The animals thank you!
Animal Rescue, Inc.
Tax ID No. 23-2180310
Please Leave a Legacy of Life for Homeless Animals By Remembering Animal Rescue, Inc. in Your Will and Other Estate Plans.