LIFE INSURANCE
Could be right for you if
- Your life insurance policy is paid up or has significant cash value.
- There are no outstanding loans against the policy.
- Your family’s financial needs are met by other means.
How it Works
TWO OPTIONS
Option 1:
You transfer ownership of your policy to Gilda’s Club Kentuckiana. By making Gilda’s Club Kentuckiana the owner of your policy, we can cash it in and use the proceeds immediately or retain it and receive full death benefits.
Your benefits may include:
- An immediate income tax charitable deduction for the value of the policy.
- No impact on your current cash flow.
Option 2:
You name Gilda’s Club Kentuckiana as a beneficiary of your policy. You can designate Gilda’s Club Kentuckiana to receive all or a portion of your policy’s death benefit. This can be changed at any time to reflect your current wishes.
Your benefits may include:
- The death benefit will not be included in your taxable estate, potentially reducing estate taxes.
- Your cash flow remains unchanged during your lifetime.
- You maintain full flexibility and can revise your gift designation at any time.