Geri Shatz of Yardley, Pa., wanted to do something important for the Jewish National Fund, “but there’s a real limit to how much more I could give each year,” she said.
The answer: Shatz bought a $100,000 life insurance policy and named JNF as the owner.
Here’s how it works: Shatz purchased a life insurance policy with a face value of $100,000 and named JNF as owner and irrevocable beneficiary. To fund the policy, Shatz will write a check to JNF in the amount of $1,000 each year. JNF will, in turn, pay the premium to the insurance company. This will allow her to preserve her tax deduction. Upon her death, JNF will receive the $100,000 and establish an endowment in Shatz’s name.
“I will continue to make a major gift to the annual campaign at JNF, which is so meaningful,” Shatz said. “This is a great way to have your commitment continue even when you can no longer make a gift, and which does not affect the inheritance you leave for your family.”
JNF’s planned giving department can be reached at (800) 562-7526.