Switchpoint accepts gifts of life insurance either as the beneficiary of a policy or as the sole owner and sole beneficiary. Either way, we can use these gifts to help the lives of homeless individuals and families in southern Utah.

You can name Switchpoint as a primary life insurance beneficiary or as a contingent beneficiary should your other beneficiaries not survive you. After your lifetime the benefits from your policy pass to Switchpoint free of federal estate tax. To make this gift simply contact your insurance carrier and request a beneficiary form. Here are some benefits to you:

* Simple to give: Involves little effort or paperwork

* Financial advantage: Continued ownership of your policy

* Flexibility: You can change your mind and your beneficiaries at any time

* Future tax savings: Removes the asset from your potential gross taxable estate

* Legacy of kindness: Your gift will help Switchpoint continue its lifesaving work

Example: Years ago, Dorothy bought a life insurance policy to protect her family. Her family no longer needed this protection, so she decided to name Switchpoint as the life insurance beneficiary. After Dorothy’s lifetime the policy will benefit homeless individuals and families through Switchpoint’s work.

Making an outright gift of a paid-up insurance policy: Another option is to donate your paid-up life insurance policy to Switchpoint. If the policy has a cash value, Switchpoint would have the option of either holding the policy until the maturity date or surrendering the policy to receive the policy’s current cash value.

 

Here are some benefits to you:

* Income tax savings: You’re entitled to a current income tax deduction

* Future tax savings: Removes the asset from your potential gross taxable estate

* Legacy of kindness: Your gift will help Switchpoint continue its lifesaving work

Example: Tim bought a life insurance policy years ago that he now wants to donate to Switchpoint. Since he gave the policy to us, Tim can claim an income tax charitable deduction. The total amount of the policy is removed from his estate and we will use the gift to help homeless individuals and families at the shelter and in our community.