What is Legacy Giving?

Legacy Giving is planned giving that allows you to donate a monetary gift to a charity, church, or non-profit organization.  Most people associate life insurance with protecting their family.  But you can also use life insurance to give a monetary gift to a charity that has made an impact on you and your family and truly leave a legacy long after you’re gone.

Why Give Through Life Insurance?

By donating with life insurance, both you and the charity you give to can enjoy benefits, including:

  • Potential income tax and estate tax deductions.
  • The ability to give more through the life insurance death benefit.
  • Death proceeds that avoid the delays of probate.

Ways to Give With Life Insurance

Any type of insurance can be used to set up a Legacy Giving plan, but permanent life insurance is the best option. WoodmenLife offers a variety of life insurance products to meet your needs, and once purchased, you can assign it to a charity, church or non-profit organization. You can also keep ownership and designate your charity as a beneficiary.

A Lasting Legacy

The purpose of Legacy Giving is not to reduce, replace or eliminate protection for your family. The first step of any Legacy Giving plan is to protect your family’s needs, and then create a charitable giving plan that works for you.

Interested in Learning More?

Contact Jenifer Parks, WoodmenLife, 505-293-9542, 505-980-4200 or jParks@woodmen.org

**WoodmenLife is not a NAMI endorsement; just offered as an option for those looking for ways to support your favorite charity.