Gifts of Life Insurance or Retirement Plans

Help insure the future of Crossroads Rhode Island

Gifts of Life Insurance and Retirement Plans are two additional ways to plan a gift to Crossroads Rhode Island where the donor also benefits.

Gifts of Life Insurance

• Donor Transfers ownership of a "paid up" life insurance policy to Crossroads.
• The donor receives an income tax deduction based upon the cash value accumulated in the policy.
• The donor may also be able to use the cash value build up in the policy to fund a life income gift such as a Crossroads Charitable Gift Annuity.
• The donor directs a specific dollar amount or a percentage of the life insurance policy to Crossroads and names Crossroads as the beneficiary of the policy.

Gifts from Retirement Plans

• This type of charitable gift avoids the double taxation of gifting retirement plan assets to heirs.
• The donor names Crossroads as the beneficiary of their IRA, Roth IRA, 401k, 403b or pension plan.
• The donor can direct a specific dollar amount or a percentage of your retirement plan to Crossroads.
• The donor controls the retirement plan during their lifetime and can update the gift if the financial situation changes.