For those who are passionate about supporting the Jewish community and ensuring a strong, vibrant future, giving through life insurance is an impactful and strategic way to make a lasting difference. At Jewish Federation of Palm Beach County (EIN: 59-0948696), we understand the importance of innovative giving options, and one powerful method for expanding your philanthropic impact is through life insurance.

Life insurance is often viewed as a way to provide for loved ones after one’s passing. However, it also can serve as an excellent tool for charitable giving, offering a way to leave a lasting legacy that supports causes you care about. By naming Federation as the beneficiary of your life insurance policy, you can ensure that your philanthropic vision continues for generations to come.

How It Works

Life insurance allows individuals to make a larger contribution to charitable organizations without impacting their current financial situation. Here’s how it works:

• Naming Federation as a Beneficiary: By designating Federation as a beneficiary of your life insurance policy, Federation will receive the proceeds when the policyholder passes away. This is an easy way to ensure a significant future gift without requiring any upfront financial commitment .
• Donating the Policy: If you have an existing life insurance policy that you no longer need, you can choose to donate the policy to Federation. In this case, you would transfer ownership of the policy, and Federation becomes the policyholder. You may be eligible for tax deductions for the value of the donated policy.
• Purchasing a New Policy: You may also choose to purchase a new life insurance policy, naming Federation as the owner and beneficiary. This allows you to make a charitable gift in a way that costs little to nothing  out of pocket while leaving a significant donation in the future.

The Benefits of Giving Through Life Insurance

There are several reasons why life insurance is a powerful way to expand your charitable giving:

• Affordability: Life insurance allows you to make a larger gift than you may be able to afford in the present. Small monthly premiums can ultimately result in a large donation.
• Flexibility: Whether you want to make a direct donation now or plan a legacy gift, life insurance offers flexibility. You can select the type of policy and structure the gift in a way that meets your needs and goals.
• Legacy Building: Through life insurance, you can create a legacy that aligns with your values. By supporting Federation, you are helping to fund programs that ensure the continued growth and vibrancy of Jewish life in Palm Beach County, Israel, and around the world.
• Tax Advantages: Depending on your specific situation, you may be eligible for tax benefits when you name Federation as a beneficiary or donate a policy. These potential deductions make life insurance an even more appealing option.

Your Gift, Your Impact

When you give through life insurance to Federation, you are ensuring that your commitment to Jewish values and community will continue to thrive. Whether you are supporting local educational programs, advocacy for Israel, or global humanitarian efforts, your legacy will make a lasting impact.

When considering any of these charitable arrangements, it is critical to have a skilled planning team with expertise in finance, law, taxes and life insurance. We would be happy to answer any questions you or your advisor may have. Please contact:

William A. Meyer Jewish Community Foundation

Phone:561-242-6639

Email: meyerjcf@jewishpalmbeach.org

*Please consult a licensed estate planning professional to ensure compliance with applicable state laws.