Truth 20. Charitable gift annuities
"If I am not for myself, who will be for me? If I am not for others, what am I? And if not now, when?"
Philanthropically inclined people looking for the guaranteed lifetime income of an annuity might well consider a charitable gift annuity. Many charities, such as the Red Cross or the Salvation Army, prominently feature charitable gift annuities as a major fund-raising activity that is seen by them as presenting a win-win situation whereby the individual gets income for life while the charity ultimately is the beneficiary of a substantial charitable gift.
Instead of purchasing an annuity from an insurance company, with a charitable gift annuity you buy the annuity directly from the charity. The ...