Life insurance

Life insurance is a relatively simple yet effective way for both you and AACE to benefit.

Here are some ways you can give:

1. Gifting a current policy. If you've outlived a policy and don't want to surrender it for cash value, you can gift the policy away. Gifting the policy away gives you an immediate tax deduction for the policy's value and eliminates any taxable gains.
2. Making AACE the beneficiary. If you're not interested in gifting the policy away, you could consider adding AACE as a beneficiary. You'll receive no tax deduction for this action, but you can have the satisfaction of knowing that you have made a significant impact on young lives for eternity.
3. AACE owns the policy. If you'd like AACE to purchase a policy for you, you'll receive a full-income tax deducation for the entire premium. You would give an amount equal to the annual premium to AACE, but AACE would own the policy.
    

For Example: A husband and wife (age 60) make an annual contribution of $2,115 to AACE. AACE pays the premiums on a $100,000 second-to-die policy. The husband and wife are allowed to deduct the entire amount contributed to AACE. If the policy is paid up in 15 years, they will have contributed $31,725 to provide $100,000 for a ministry dear to their heart.

If you would like to discuss gifting life insurance in greater detail, please contact us.