Legacy Society
Gifts that Return Income

Life Insurance

An important but frequently overlooked role of life insurance is the one it can play in charitable gift planning. A gift of life insurance may directly fund a gift, permitting you to make a substantial gift to Jackson Prep (face value of policy) for a relatively modest annual outlay (the premium payment). You may contribute either a new policy or allocate a portion of an existing policy, naming Jackson Prep as a primary or contingent beneficiary.
  • Make an outright gift of an existing policy. You can name Jackson Prep as owner and beneficiary of an existing policy. You may receive a federal income tax charitable deduction and reduce your future estate tax liability. If you continue to pay premiums on the policy, each payment is tax deductible as a charitable gift.
  • Make an outright gift of a new policy. You can take out a new policy and irrevocably name Jackson Prep as the owner and the beneficiary of the insurance contract. This method may be particularly attractive for the younger donor. Whether you make one single premium payment for the policy or pay annual premiums, each payment is tax deductible as a charitable gift.
Examples Annual Premiums for life policies. Rates and availability will depend on life insurance carrier and specific insured details.

                    $1M Policy             $ 250,000.00 Policy          $ 100,000.00 Policy
Age 40                $ 10,524.00            $ 2,676.00                      $ 1,302.80
Age 50                $ 16,830.00            $ 4,252.50                      $ 2,061.40
Age 60                $ 28,684.00            $ 7,216.00                      $ 3,424.00
Age 70                $ 49,786.00            $ 12,491.50                    $ 6,020.20
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Mail: P.O. Box 4940, Jackson, MS  39296 |
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