Giving Life Insurance

Do you remember why you invested in life insurance? It probably was because your estate was small or cash poor. You wanted to make sure your beneficiary would receive funds immediately. Perhaps you don't need all that coverage today. You have other substantial investments and benefits that will yield a good income for yhour family after your lifetime. Yet you still have those policies.

Putting Your Insurance to Work
If you're thinking about making a gift to United Cancer Research Society, your life insurance could be the most sensible way to make such a gift. Consider these benefits:

• You can get a tax deduction.
  By naming us as beneficiary and assigning ownership of the policy to us, you can get a valuable income tax charitable deduction.

• Your income isn't cut.
  A gift of an insurance policy won't reduce your current income.

• Your cash flow may increase.
  If you stop paying the policy premiums, you'll enjoy an increase in available cash. Or, if you continue paying the premiums, you'll enjoy an increase in available cash. Or, if you continue paying the premiums on a policy you contribute to us, you may claim the premium amount as an annual tax deduction.

• Your gift is easily arranged.
  You can transfer ownership of an insurance policy to us without the legal expense of preparing a will or codicil.

• You are giving us helpful options.
  If the policy has a cash surrender value, we can cash it in, borrow against it for our current needs, or convert it to a paid-up policy, if necessary.

You Get Generous Tax Benefits
When you no longer need the protection of your life insurance, your benevolent gift to United Cancer Research Society will strenthen our work and save you taxes.

Here's how your income tax deduction is figured. When you contribute a policy on which premiums remain to be paid, your deduction generally is close to its cash surrender value--actually, a bit more. When you contribute a paid-up policy, your deduction is generally what it would cost to replace the policy at your age and state of health at the time of your gift, but never more than yhour investment in the policy. The insurance company can calculate these values. (While these tax rules apply to most types of policies, there are special rules that apply to group term insurance and certain other forms of coverage. We'll gladly explain.)

Example:
Last year, Harold donated a policy then worth $20,000. In addition, he made cash gifts to various charitable organizations totaling $6,000, so the total of his charitable gifts for the year was $26,000. As his adjusted gross income was $42,000, he deducted $21,000 (50% of $42,000). He plans to deduct the $5,000 balance of those gifts on this year's return.

If you'd rather hold on to your policies, consider making United Cancer Research Society the contingent beneficiary of your insurance.

Act Now to Secure Maximum Benefits
Your life insurance is more valuable than ever. By a gift of insurance to United Cancer Research Society now, you can save taxes and increase your spendable income. Most importantly, your contribution will support our important work. In concert with your insurance advisor, we'll help you decide the way you can benefit most from your gift.

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