Romanian League in Defense of Animals (ROLDA) 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 save the lives of homeless and abused animals in Romania.

You can name Romanian League in Defense of Animals 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 Romanian League in Defense of Animals, 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:

1. Simple to give: Involves little effort or paperwork
2. Financial advantage: Continued ownership of your policy
3. Flexibility: You can change your mind and your beneficiaries at any time
4. Future tax savings: Removes the asset from your potential gross taxable estate
5. Legacy of kindness: Your gift will help ROLDA continue its lifesaving work

Making an outright gift of a paid-up insurance policy: Another option is to donate your paid-up life insurance policy to ROLDA. If the policy has a cash value, ROLDA 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:

1. Income tax savings: You’re entitled to a current income tax deduction
2. Future tax savings: Removes the asset from your potential gross taxable estate
3. Legacy of kindness: Your gift will help ROLDA continue its lifesaving work

Fair market value: The fair market value of a life insurance policy given to charity is not necessarily the amount the donor can claim as an income tax charitable deduction for the gift, but it is the starting point in determining the donor’s deduction. Internal Revenue Service (IRS) regulations and court cases establish rules for determining the fair market value of an insurance policy.
In the case of a paid-up policy, the fair market value for federal gift tax purposes is the cost of replacing the policy.

For a whole life policy on which premiums remain to be paid, the fair market value is the policy’s interpolated terminal reserve plus the unexpired portion of the last premium paid. The fair market value is (1) increased by the amount, if any, of dividends accrued to the date of gift and (2) decreased by the amount of any outstanding loan against the policy. For a term policy, the fair market value is simply the unexpired portion of the last premium paid.