A life insurance gift is a creative way to make a significant contribution that will help Mosaic support people with disabilities for generations to come. The gift of a new or existing policy is ideal for those who want to make a major gift but may not have the financial means to do so.
Options and benefits of giving through life insurance include:
- Change the beneficiary of existing policy - Simply complete a change of beneficiary form naming Mosaic as the primary beneficiary of your policy. Because you retain ownership of your policy you do not receive an income tax deduction; however, your estate will receive an estate tax charitable deduction.
- Transfer ownership of existing policy - You can donate your policy by completing a change of ownership and beneficiary form whereby The Mosaic Foundation becomes the sole owner and beneficiary. You will receive a charitable income tax deduction approximately equal to the cash surrender value of the policy. Your continued annual premium payments can also be deducted as charitable gifts.
- Establish a new charitable life insurance policy - You may wish to establish a new life insurance policy with The Mosaic Foundation named as the sole owner and beneficiary. This option allows you to determine the gift amount and choose the insurance company that underwrites the policy. Each year you will receive a charitable income tax deduction for the premium you pay.
Whether you choose to make a gift through an existing policy or a new policy, you can benefit from reduced estate taxes. Individuals who designate The Mosaic Foundation as the beneficiary of a life insurance policy become members of our Legacy Society, which recognizes those who embrace the mission of Mosaic by naming the organization as a beneficiary in their estate plans.
For more information about life insurance gifts or other planned gift options, please contact a Mosaic planned giving professional using the planned gift Information Request form. You may also write or call Mosaic at:
Mosaic
Planned Giving Associate
4980 S. 118th St.
Omaha, NE 68137-2220
877-366-7242 x1106 (toll free)