Charitable Gift Annuity
Updated: 29 February 2024
What Does Charitable Gift Annuity Mean?
A charitable gift annuity is an annuity in which the annuitant gives a certain portion of the money to charity. As a result of this donation, they receive tax benefits and gain access to annuity payments, often for the rest of their life.
Annuities, including charitable gift annuities, are commonly offered by life insurance companies.
Insuranceopedia Explains Charitable Gift Annuity
Charitable gift annuities yield three benefits: helping the world, getting tax breaks, and generating fixed income. However, for the benefits to be substantial, the charitable donation must also be very sizable.
These types of annuities can be very beneficial income streams for charities.
Related Definitions
Related Terms
Related Articles
Retirement: Here’s How Your Insurance Needs Will Change
How Annuities Can Help You Plan the Rest of Your Life
Life Insurance as an Investment? It’s Called Permanent Insurance
Insurance Self-Service Portal: The Future of Customer Experience
Blockchain’s Impact on Transforming the Insurance Landscape
What Every College Student Should Know About Renters Insurance
Related Reading
What Is Temporary Life Insurance?
Revealing the Most And Least Popular U.S. Insurance Companies
Texas is the state with most people killed by animals in the US
Life Insurance Statistics
How Long Do You Have To Have Life Insurance Before You Die?
Life Insurance Statistics