We continue our discussion from yesterday with a few more ways to use a life insurance policy as a charity donation.
Naming a charity as a beneficiary is the easiest way to go about this. The downside to this tactic is that it doesn’t offer income tax advantages that accompany gifting a policy. It does, however, provide the utmost privacy of the transaction, and “transfer of assets from an insurance contract is also absolutely incontestable.” The donor still possesses power in 
this type of situation in that he/she may change the beneficiary should he/she choose to do so.
The last way to donate to charity via a life insurance policy is through gifting policy dividends. But know that taking this route won’t have the same benefit as the other ways we discussed. These dividends are “deductible in the same manner as premiums paid on a gifted policy, and this strategy does not require any additional cash outlay from the donor.” So think carefully before choosing this one.
As you can see, insurance policies are useful in ways you may not have even been aware of. If you’re interested in this decision or would like more information, do not hesitate to contact your insurance agent.
If you need life insurance for just a few years, you may not want to purchase a short 
It’s January, the first month of the new year. And it couldn’t be a better time for you to review your life insurance policy, or purchase one! It’s a good time to review the last year and take any life changes into account. Perhaps you bought that new house? Welcomed a child into the world? Received an inheritance? While these changes are all positive, they also indicate that it’s time to take a look at your life insurance policy and plan accordingly.
One of the most important factors involved when it comes to purchasing life insurance is the cost, and understandably so. After all, it is the amount of money you will be paying for a policy, and most people want to be sure they’re getting the most for their money.