Life Insurance, Retirement and Savings Accounts

How to Give When Your Needs Change

Life insurance, pension plans, individual retirement accounts, certificates of deposit, and savings accounts are convenient gift options that people often overlook.

Retirement account assets, if left to anyone other than a spouse, may be subject to very high taxation. By designating Chosen People Ministries as recipient of any benefits remaining in your retirement plan, or by using them during your lifetime to fund a charitable gift, you may effectively reduce the taxes that will otherwise be imposed on those assets that have grown tax-free, while accomplishing more with your other assets.

You can make a significant contribution to Chosen People Ministries' future by using resources originally acquired to protect you and your family.

• Your life insurance needs have probably changed over the years. For example, your children may be grown or your investments have provided increased income and security. If you own a policy you no longer need, you may name Chosen People Ministries as the beneficiary to receive all, or a portion, of the policy's proceeds.
• Another way to make a gift is to take out a new policy that names Chosen People Ministries as owner and beneficiary. Many donors find that this is a convenient way to make a sizeable gift.
• If you have retirement assets in excess of your financial needs, ask about naming Chosen People Ministries as the final beneficiary.
• Certificates of deposit and savings plans make excellent gifts. Simply name Chosen People Ministries as a joint owner. This type of gift allows you to provide future support for Chosen People Ministries while you avoid any unnecessary estate expenses.

How can I get more information?

Please e-mail us, call us at 212-223-2252, or write to us at Chosen People Ministries, 241 East 51st Street, New York, NY 10022.