Gift of Life Insurance:

How It Works:

1.   You name Habitat for Humanity of Lee County as the beneficiary of your life insurance policy.

-Or-

2.   You transfer ownership of a paid up life insurance policy to Habitat for Humanity of Lee County

3.   Habitat elects to cash in the policy now or keep it and receive the death benefit later.

Benefits

• The beneficiary designation will not produce any income tax charitable deduction at the time the beneficiary designation is made, but it will result in an estate tax charitable deduction for the death proceeds passing to the charity at the insured donor's death.
• If you elect to transfer ownership of a paid up life insurance policy, you receive gift credit and an immediate income tax deduction for the cash surrender value of the policy (technically, the “interpolated terminal reserve value” of the policy).

You can have the satisfaction of making a significant gift now to Habitat without adversely affecting your cash flow.