If you have a life insurance policy that you no longer need, you can support the community by donating the policy to Community First Foundation. The Foundation would become the owner and beneficiary, and you would receive a tax deduction for the full amount of the policy’s cash value. If you would like to continue to pay the policy’s premiums, you could make tax-deductible contributions to the Foundation, which would then make the payments to the insurance company. This is a great way to turn an unnecessary asset into a meaningful contribution to the community.

Benefits: Create income tax deduction for gift value (policy’s cash value) and insurance premiums; leverage small premiums or one-time cash outlay.

For additional guidance, please call 720.898.5900.
 
Gift of Life Insurance Proceeds
One way to support a charitable cause is to establish a life insurance policy that names Community First Foundation as the owner and beneficiary. This is a great way for a donor to receive tax and financial benefits while providing a significant future gift to a charitable organization. If you’d like a family member to receive priority from the policy, you can name the Foundation as a contingent beneficiary.
 
Benefits: Create income tax deduction for gift value and insurance premiums; leverage small annual premiums or one-time cash outlay.
 
To read more, select any of the following from Charitable Giving Booklets:

Life Income Gift Plans: Ways to Give and Receive.