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Life Insurance Gifts

Life Insurance Gifts

A life insurance gift is a terrific way to ensure a legacy to Jewish National Fund (JNF). Life insurance leverages the contribution so that even a modest premium can mean a significant gift later on.

There are two ways to gift a life insurance policy. A donor can gift an existing policy that is no longer needed, or a new policy specifically earmarked for Jewish National Fund can be established.

The allowable tax deduction is figured differently for each. With a new policy, the donor can receive an income tax deduction for each premium paid. For an existing policy that has cash values, the donor receives a deduction equal to an amount related to the cash value of the policy. Once the policy is transferred to JNF, any future premiums paid can be used as an additional tax deduction.

In both cases, the policy’s ownership and beneficiary designation need to be transferred irrevocably to Jewish National Fund. To speak to a JNF Planned Giving Specialist, please call (800) 562-7526. Donate a life insurance policy and join the Daron and Ron Barness Circle.


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