Planned and Endowed Gifts

Gifts of Life Insurance

Life insurance that you no longer need for your family's security may be an attractive asset to donate to the Metropolitan Opera. You may contribute a new or an existing policy by naming the Met to be first, second or final beneficiary of all or a portion of the proceeds. Your estate may be entitled to a charitable deduction for the proceeds passing to the Met.

If you name the Metropolitan Opera as irrevocable owner and beneficiary, you will be allowed to claim an immediate income tax deduction for either a fully or partially funded policy. If you donate a new or partially funded policy, you can make annual gifts to the Met to cover the cost of subsequent premium payments to maintain the policy and you can deduct those gifts as well.

Life insurance may also be used to replace some or all of the value of another asset given to the Met. You may use the tax saving generated by the charitable income tax deduction to purchase, directly or in a trust, a life insurance policy whose non-taxable proceeds would be payable to family members or other beneficiaries. This technique is often referred to as Wealth Replacement because you are using life insurance to replace the value of an asset that you have given to the Metropolitan Opera.

For more information or confidential help in planning your gift of life insurance to support the future of the Metropolitan Opera, please complete this form or contact our Planned Giving office directly. Our experienced tax and estate planning staff can provide you with individual assistance and gift planning information, without obligation.

Office of Planned Giving
The Metropolitan Opera
30 Lincoln Center
New York, New York 10023
Telephone 212-870-7388
e-mail: EncoreSociety@mail.metopera.org