What does Charitable Gift Annuity mean? Read on to discover the definition & meaning of the term Charitable Gift Annuity - to help you better understand the language used in insurance policies.
Charitable Gift Annuity
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.
We hope the you have a better understanding of the meaning of Charitable Gift Annuity.