Here at John Scott Insurance we are strong believers in giving back. We have been service based and very involved in philanthropy for many years. We have given to our local food pantry for a long time and we recently started to donate to “Hello Gorgeous” which is a local nonprofit organization that provides complimentary, professional makeovers and cosmetic education to women battling cancer.
Do you donate your time to a charity? Are you very supportive and involved in your alma mater or church? Is there an organization that you donate to that means a lot to you?
Auto-Owners Insurance (one of the companies we provide insurance through) has a Single Pay Whole Life Insurance product that is ideal for charitable gifting.
The benefit of using the product for charitable gifting is that it allows you to leave a larger contribution to your charity, college, church, or organization. For example a 50 year-old male non-tobacco user with standard rates plans to donate $5,000 to his church. Through this Single Pay Whole Life Insurance product his $5,000 premium payment translates to a death benefit of $15,166 going to his church!
This is a great way to show support for the organizations that mean
so much to you and also leave a legacy.
Gifting your policy to a charitable organization may also yield a current income tax deduction.
The Single Pay Whole Life Insurance product is convenient, affordable, and a great product for gifting.
Give us a call at John Scott Insurance Agency to find out more. We can help you decide if this product is a good fit for you and get you enrolled in it right away if you choose to move forward.