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  • 1.  Planned Gifts of Life Insurance

    Posted 23 days ago

    Hi, we recently began using the Planned Giving Module in Raiser's Edge and was wondering how others using the planned giving feature are handling current premium payments of life insurance.  Do you link them to the planned gift or is it a separate entry since they are payments being made while they are living?  Applying current premium payments wouldn't reduce the principal balance but should they be part of the planned gift and linked? Thank you in advance!



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    Dena Toth
    Medical University of South Carolina Foundation
    tothd@musc.edu
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  • 2.  RE: Planned Gifts of Life Insurance

    Posted 23 days ago
    Gifts of life insurance actually are not planned gifts. The policy itself (if it has a cash surrender value) is a current gift of property. You can liquidate it immediately.

    The premium payments are current use gifts.

    Most policies should be sold upon receipt depending on the age of the donor. You can often do better investing the proceeds and annual gifts that would have paid the premium.

    John


    John Taylor Principal, John H. Taylor Consulting, LLC 919.816.5903 Big ideas; small keyboard





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