Male   Female
  • How to use a life insurance policy for charitable donations
  • February 17, 2014
  • life insurance charity

    It’s common knowledge that having the proper life insurance policy means having long-term financial protection, but what most people don’t know is that those policy proceeds can be used for charitable donationsĀ as well.

    In a guest column in the Lafayette Advertiser, life insurance professional Georgianna Latino notes that policy holders can name chosen charities as beneficiaries to their policies and benefit from tax deductions.

    Latino continued with ways in which your life insurance policy can benefit a favored charity. For example, policies that are no longer needed can be transferred to a charity. The transaction is exempt from the federal gift tax, whereas those who itemize their returns are eligible for a tax deduction.

    Latino added that people can consider designating the charity as a beneficiary, which allows the beneficiary to maintain full control over the death benefit. If the insured wishes to maintain control over the policy after they have passed, they may consider creating a charitable trust.

  • Category: Articles Library, Life Insurance, Videos

Leave a Reply



Consumer Insurance Guide SM provides a wide selection of originally-authored articles and expert advice targeted to the self-directed insurance shopper. Our mission is to provide consumers with useful, money-saving information on all things having to do with making sound insurance purchase decisions.

Consumer Insurance Guide SM is owned by Life Quotes, Inc. 8205 South Cass Avenue, Darien, IL. For editorial, content feeds, advertising and lead purchase opportunities, contact Robert Bland, Publisher at

Life Quotes, Inc. owns and operates and, two online consumer insurance information services that cater to the needs of self-directed insurance shoppers.

About Us  |   Contact Us  |   Press Releases  |   The Best Privacy Policy  |   Life Insurance  |   Careers
For Agents & Brokers  |   Site Map  |  

Copyright ©1984-2015 Life Quotes, Inc., 8205 South Cass Avenue, Suite 102, Darien, Illinois. Life Quotes, Inc. and certain of its personnel are licensed as insurance agents, brokers or producers in all states. CA agent #0A13858, LA agent #200696, MA agent #333509159. dba Life Quotes Insurance Services in CA under agent #0827712, in LA under agent #205078. dba Life Quotes Insurance Services, Inc. in UT under agent #90093. All rights reserved. Telephone (630) 515-0170. Founded 1984.