Gift-Replacement Life Insurance

How it works

	You create a gift plan like a Charitable Gift Annuity or a Unitrust that will pay you income for your lifetime.
	You also purchase a life insurance policy, naming your children or other heirs as beneficiaries. The amount of the death benefit equals the contribution you made to create your life-income gift.
	You pay the premiums for the policy from the income you are receiving from your life-income gift.
	At your death, Kentucky Baptist Foundation receives the remaining balance of your gift plan for the benefit of one or more charitable causes and your heirs receive cash in the amount of your original gift.

Benefits

• You make a significant gift through Kentucky Baptist Foundation with no negative effect on your family financial security.
• After your gift, your estate is replenished for the benefit of your heirs.
• No new assets are required to pay for this replacement: tax-savings from the charitable deduction plus income you receive from your new gift plan pay the premiums.
• Donors with large families or children who will need long-term assistance can consider helping Kentucky Baptist, Southern Baptist and/or other charitable causes at a level they never thought possible.
• One asset can do the work of two: make a gift through Kentucky Baptist Foundation, and provide an equal benefit to your heirs.