Annuities

The gift annuity program provides a means through which persons who are committed to the mission of the Church may make gifts to support that mission and still receive an income for the remainder of their life or the life of a loved one. For example, a retired individual that still needs the income from a portion of their life savings but wants to leave a portion of their estate to the Church may achieve both goals with an annuity. He or she may purchase an annuity for any value. For illustration purposes, he/she purchases an annuity for $10,000. The income paid for the annuity is based on the age of the donor. Assuming an age of 85, the donor will receive an annual payment equal to 8.9% for the remainder of their life. At the donor's death, the annuity will pass to the board, agency or church named as the beneficiary. Full explanations of the program are available through the Board of Missions, 1978 Union Ave., Memphis, TN 38104; 901/276-9988.