Life Insurance

Life insurance is a relatively inexpensive way to make a substantial gift to the South Dakota Parks and Wildlife Foundation. You can make the Foundation the owner and beneficiary of a policy you now own or a new policy that you purchase. Such a gift entitles the donor to a substantial tax deduction.

Alternatively, you can simply make the South Dakota Parks and Wildlife a beneficiary of an existing or new policy, although such a designation does not entitle the donor to tax benefits.

Contact your life insurance provider or tax professional for more information.

Example:

You purchase a new $250,000 whole life policy from a highly rated company and make the South Dakota Parks and Wildlife Foundation the owner and beneficiary. You write a check to the Foundation for the amount of the annual premium and plan to continue to write checks for the premium amount to the Foundation each year. The Foundation in turn pays the life insurance company the premium and gives you an annual receipt in the amount of the gift you gave to pay the premium.

Benefits include:

You are eligible for an annual income tax deduction for your cash gift to pay the premium.
You can specify in an agreement with the South Dakota Parks and Wildlife Foundation how you want the assets from the life insurance policy used after your death.
The Donor will provide generous support to the South Dakota Parks and Wildlife Foundation.

For more information, contact the Foundation.

Any calculations or examples are for illustration purposes only and should not be considered legal, accounting, or other professional advice.