What Do You Know About Gift Annuities?

What Do You Know About Gift Annuities?

By Jackie Jacobs

Here is a little quiz to help you check your knowledge of charitable gift annuities. Read each of the following seven statements and then select a word from the list of 15 words to make the statement true. No word in the list is used more than once. For the answers, see below. Good luck!

1. A person who received payments from a gift annuity is called an __________.

2. The maximum number of persons who can receive payments from a gift annuity is__________.

3. The term “annuity” refers to a fixed __________ payment.

4. Part of each annuity payment, at least initially, will be __________.

5. Annuities work especially well for __________.

6. Payment rates are __________ for older donors.

7. Gift annuity payments __________ rise and fall with economic conditions.

How did you do? If you answered six or seven of these questions correctly, you probably already have a charitable gift annuity. If you missed three or more, it’s probably time to get in touch with a planned giving officer at your favorite charity. I have some excellent material that explains gift annuities, and it is all complimentary and confidential.

For a personalized illustration of what a gift annuity might do for you, feel free to contact me, with no obligation on your part.

Thank you for your interest in the many benefits of a charitable gift annuity.

Word List:

annuiman, annuitant, parents, pets, quarterly, tax-free, lower, higher, two, three, always, annual, precarious, seven, never

Answers:

1 – annuitant; 2 – two; 3 – annual; 4 – tax-free; 5 – parents; 6 – higher; 7 – never.

Article appears as originally published in the Ohio Jewish Chronicle, Thursday, September 14, 2017.

Jackie Jacobs is the Chief Executive Officer of the Columbus Jewish Foundation, the Central Ohio Jewish community’s planned giving and endowment headquarters.