America's First Freedom - April 2014 - 19

F R E E D O M ' S

F U T U R E

by Wilson H. Phillips Jr.,
nra Treasurer

Life Insurance As A Charitable Gift

O

f the many ways to support nra, life insurance policies can provide excellent
vehicles for tax planning and giving. Life insurance gift opportunities can be
found in existing life insurance policies as well as in new policies.
If you are still insurable and own a large existing life insurance policy with large
cash values where a financial obligation no longer exists, you may be able to make a
significant, tax-deductible, charitable donation and pocket a substantial amount of that
cash value. Flexible and varied opportunities exist in these situations and an nra gift
planning officer can help you discover the best plan for you.
Or, if you simply have an existing policy that was intended to cover the cost of
college, a mortgage or some business obligation and those obligations have been
fulfilled, the policy can be converted to a charitable gift of life insurance.
Or, let's say you and your spouse give a yearly gift of cash. You know that The
nra Foundation relies on the generosity of folks like you to support nra's charitable
programs. But what will happen to the foundation when you retire and will not be able
to give gifts of the same level as before? A gift of life insurance may be the right answer.
Take, for example, nra Ring of Freedom Heritage Society Ambassadors Robert
and Sharon Callan. Each year, their gifts totaled $5,600 in support of the National Rifle
Association. With retirement a mere six years away, they knew they would not be able
to sustain the gift levels they were accustomed to, but they still wanted to give a more
substantial legacy gift that spoke of their values and supported their favorite nra programs.
The Callans applied and qualified for a joint life insurance policy that covered both
of them. For the next six years, the Callans will make their usual annual tax-deductible
gifts of $5,600 in support of their life insurance premiums. At the end of six years, they
will have fulfilled their premium obligations just in time for retirement. Later, at the
passing of the last spouse, the nra charity of their choice will receive a charitable life
insurance benefit of $275,000, which is ultimately the equivalent of more than 49 years
of annual giving at their current level.
Whether you are interested in taking out a new life insurance policy like the Callans
or if you simply want to convert an existing life insurance policy to a charitable gift,
the nra Gift Planning Team can show you how.
An nra gift planning officer can help you determine if you are able to convert a life
insurance policy into a charitable tax-deductible gift. The officer can also assist you in
finding a non-affiliated, but nra-friendly, life insurance specialist who can help you
select the right policy to achieve your charitable goals and comfortably fit your budget.
Whether you are looking to establish a new life insurance policy or convert
an existing policy to a generous gift, the nra gift planning team can answer your
questions and get you started. Call toll-free today at (877) 672-4483 or email us at
giftplanning@nrahq.org for a free, no-obligation consultation.

Make Your Legacy One Of FREEDOM
NRA's FREE 2014 Gift Planning Guide Now Available

You can craft a will that ensures freedom for your children and theirs.
Written in easy-to-read, no-nonsense language, nra's Gift Planning
Guide is the one tool you want to craft the plan you need. There is no
obligation, and best of all, it's free!

Wilson H. Phillips Jr. has served as
treasurer and CFO of the National
Rifle Association and its affiliated
foundations since 1992. He is
an NRA Ring of Freedom Loyalty
Fund member and an NRA Heritage
Society Ambassador.

Creating Your Legacy

E

ach individual or family situation
is unique and this is particularly
true when planning a gift to the
National Rifle Association. One of the
most popular ways to give is through a
provision in one's estate plans.
The next time you sit down to update
or write your first will, think about
including the nra. After first providing
for the financial well being of your
family and loved ones, I urge you to
join me in taking a step that can be a
very special way to extend important
freedoms to future generations.
Contact the nra's Gift Planning team
for more information:

1-877-672-4483
GiftPlanning@nrahq.org
www.NRAgive.org

Order Your Free
Copy Today
1-877-672-4483
GiftPlanning@nrahq.org


http://www.NRAgive.org

Table of Contents for the Digital Edition of America's First Freedom - April 2014

America's First Freedom - April 2014 - 1
America's First Freedom - April 2014 - 2
America's First Freedom - April 2014 - 3
America's First Freedom - April 2014 - 4
America's First Freedom - April 2014 - 5
America's First Freedom - April 2014 - 6
America's First Freedom - April 2014 - 7
America's First Freedom - April 2014 - 8
America's First Freedom - April 2014 - 9
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America's First Freedom - April 2014 - 11
America's First Freedom - April 2014 - 12
America's First Freedom - April 2014 - 13
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America's First Freedom - April 2014 - 18
America's First Freedom - April 2014 - 19
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America's First Freedom - April 2014 - 27
America's First Freedom - April 2014 - 28
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America's First Freedom - April 2014 - 30
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