torah fund - The Jewish Theological Seminary

Age Rate
65 5.5%
70 5.8%
75 6.4%
80 7.2%
85 8.1%
90 9.5%
95 11.5%
An Even Easier Way: Name Torah Fund as a Beneficiary of Your
Life Insurance Policy or IRA
Many donors fund gifts large and small with life insurance policies or IRA plans. Some
purchase new life insurance plans and name JTS as the beneficiary; this has nice tax
benefits compared to an outright gift of cash in many circumstances. Others have plans
which they no longer need. “Obsolete” insurance coverage can be donated to charity in a
few different ways:
1. Give a policy on which you are still paying premiums. All you do is name Torah Fund the
owner and beneficiary of the policy. Since Torah Fund would then be responsible for
paying the premiums, you would contribute the premium amounts to Torah Fund as taxdeductible
charitable gifts. You can then count those payments to Torah Fund as
charitable gifts and Torah Fund will receive the policy in the future. You can also deduct
an amount equal to the approximate cash value of the policy at the time the gift is made—
a great boon to your taxes this year.
2. You can name JTS /Ziegler as a primary beneficiary to receive part or all of the policy
proceeds, along with your spouse and/or loved ones, or as a secondary beneficiary in case
the primary beneficiary/ies predecease/s you.
3. Give a paid-up policy you already own by changing the owner and beneficiary to Torah
Fund. You can deduct from your taxes a certain amount of your adjusted gross income,
again with great benefits to you this year.
Brochures and articles help promote planned giving, but personal presentations get the
quickest results. Of course, this is more difficult because it raises the delicate question of
the distribution of one’s estate at the time of death. Stay focused on why Torah Fund
needs and deserves planned gifts. Don’t worry about the ways to do it; let the Torah Fund
office be your technical support.
Please encourage members of your sisterhood to contact Rabbi Abby Treu, director of
Planned Giving at JTS—(212) 678-8805 or abtreu@jtsa.edu—for a model of a CGA rate
based on age and giving level.
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