In reply to Charlotte Gebauer Koelling.

Just one more thought for you Charlotte, and any others I might encourage to consider giving their insurance policy to a Godly cause. When one gives away an asset that they have invested in or which has appreciated in value, it may not "cost" as much as they might originally think if they apply the charitable deduction to the mix. (Ask your tax advisor.)

Also, before anyone out there purchases an annuity product with a commercial insurance company like Thrivent, they might also look into a "charitable gift annuity" (CGA) with their favorite charity. It's a gift that pays at a fixed rate for life for one, or two people.

Only a charity can issue a CGA, not an insurance company, and because there are no commissions or set-up and maintenance charges, many advisors are loathe to share this option with their clients (which is why you're not hearing about them at most seminars published in your Sunday bulletin).

The charity's CGA rates may be a little less than the commercial guys, but when you calculate their tax advantages, they may "break even" or even "beat" their commercial counterparts. Just note, there's no getting your money back either like you can with a commercial annuity, so be certain it's right for you by seeking INDEPENDENT and qualified tax advice. Also be sure your advisor endorses the financial stability of whatever charity you are engaging. The Feds won't bail you out.