Consider the enduring difference you can make by naming the Frederick P. Lenz Foundation for American Buddhism as a beneficiary of your life insurance policy, an under-used asset in charitable giving.
This flexible option enables you to transform an existing or new policy into a meaningful donation that will guide future generations toward understanding, empathy, luminosity and strengths. Your life’s work can continue to inspire and uplift long after you are gone.
Ways to Donate Your Life Insurance
Donate a Percentage
Consider designating a portion of your life insurance policy to benefit the Frederick P. Lenz Foundation for American Buddhism. This simple act can have a lasting impact, ensuring that your values and dedication to mindfulness and wisdom continue to make a difference.
Gift a Paid-Up Policy
If you own a life insurance policy that is no longer needed for its original purpose—perhaps intended for a child’s education, to secure a business, or to protect a mortgage—it could be repurposed as a charitable donation. Donating such a policy to the Frederick P. Lenz Foundation for American Buddhism allows you to contribute to a cause you care about, with the added benefit of deducting the policy’s replacement value.
Purchase a New Policy
Another way to contribute is to purchase a new life insurance policy with the Frederick P. Lenz Foundation for American Buddhism named as the owner and beneficiary. This strategy allows you to potentially make a larger gift than you could with cash alone, and the premiums are tax-deductible.
Replace a Bequest with Insurance
Some individuals choose to donate assets now that they had initially planned to leave in their wills or estate planning, thus gaining immediate tax benefits. The value of the donation can be replaced by purchasing a life insurance policy in that amount, providing satisfaction from the gift while ensuring future beneficiaries receive the intended inheritance.
Add the Foundation as a Beneficiary
Almost anyone can include The Frederick P. Lenz Foundation for American Buddhism as a secondary or contingent beneficiary on a life insurance policy. This means that if the primary beneficiaries are no longer living, the Foundation would receive the proceeds. While this doesn’t offer immediate tax benefits, it can result in an estate tax deduction if any funds are ultimately passed on to the Foundation.
If you have any questions, please contact us at Donations@fredericklenzfoundation.org. Together, we can help you leave a lasting impact.