Life Insurance

Making a gift of a life insurance policy is another simple and easy way to support Playhouse Square.

Life insurance gifts offer:

• Flexibility - You can support without affecting your income or tapping into retirement savings
• Leverage - A relatively small premium can grown in to a much larger future gift, often exceeding the total amount paid.
• Peace of mind - You can give using a policy you already own, and may no longer need, while preserving assets for your loved ones.

Planning Options:

• Beneficiary Designation - The simplest option is to name Playhouse Square as the beneficiary of an existing policy. You keep full control and can change it at anytime with no impact on current finances.
• Gift of a Policy - You can designate Playhouse Square as the owner and beneficiary of a paid-up policy you no longer need, which may qualify you for an immediate tax deduction roughly equal to the cash value of the policy. You can do the same with a policy with ongoing premiums and continue pay the premiums, which are typically considered charitable contributions and may be tax deductible.
• Charitable Remainder Trust - For more complex plans, life insurance can help fund a trust that provides income to you or loved ones before benefitting Playhouse Square.

If you have questions, need further information or wish to discuss your plans, please contact Leanne Dewyer at 216-64-8411.