Life insurance gift
Without the support of our generous circle of givers, PacRep could not withstand the "whips and scorns of time."
One of the easiest planned gifts to make: simply name PacRep as the beneficiary of your existing life insurance policy.
When to consider one
People usually buy life insurance to protect their families. After you stop working or your family is grown, that need often disappears, and many policies have grown valuable, with low premiums or none at all.
The advantages
- Easy to set up and change: ask your insurer for a change-of-beneficiary form.
- It does not reduce your current income.
- Substantial future support for a cause that is important to you.
- Possibly reduced estate taxes.
- Revocable: you can change your mind at any time (unless ownership is assigned to PacRep).
- Membership in the Encore Circle, the community of PacRep supporters who have made similar provisions in their estates.
If you donate the policy itself to Pacific Repertory Theatre, you may claim a charitable deduction for approximately its cash surrender value, and the proceeds are removed from your estate. If you assign ownership to PacRep, any premiums you continue to pay are deductible.
We make no claims regarding the accuracy of this information or the tax consequences of your use of it. Please consult your own tax, legal or financial planning advisor.