Life insurance can be a very flexible tool in estate-based
philanthropy. As with other giving vehicles, you can help
the Occupational & Environmental Health Foundation while
also receiving tax benefits for you and your heirs.
The OEHF as Beneficiary
Among the easiest ways to use your life insurance to make
a gift to the OEHF is to name the Foundation
as a beneficiary. If your policy is paid up and you name the
OEHF as owner and beneficiary, you are eligible
for a charitable deduction equal to your cost basis or the
replacement value of the policy, whichever is less.
If your policy is not paid up, you can still name the OEHF
as owner and beneficiary. This would entitle you to a deduction
of the cash surrender value of the policy. After the policy
has been gifted to the OEHF, you can make
yearly tax-deductible contributions to the Foundation to cover
any further premiums.
You can also use life insurance to replace the value of other
assets that you are donating to the OEHF.
For example, purchasing a life insurance policy for the value
of a gift of real estate donated to the OEHF
can help ensure the financial well-being of your heirs without
subjecting them to the hassle of selling the property.
How to contact the OEHF for further information
on planned giving
If you would like to discuss your options
or need more information, please contact:
25 Northwest Point Boulevard
Elk Grove Village, Illinois 60007-1030
847-818-1800 ext 383