Bequest of Insurance
Marla and Wayne purchased a life insurance policy many years ago to create security for their children's future. As the children grew up, married, found good jobs and accumulated significant assets, the insurance was no longer needed for its original purpose.Wayne: I wasn't ready to part with the insurance quite yet. I wanted to preserve the option of giving it to our family if someone needed extra help down the road. We both wondered if there was a way we could commit now to help our favorite charity's work but make our gift at a later date when it was clear the policy wouldn't be used.
Wayne: I also liked the fact that our estate would benefit from tax savings, which would help to preserve other assets intended for our family.
Is a bequest of a life insurance policy right for you?
Creating a bequest of life insurance is an easy gift to establish. You can easily leave a life insurance policy to charity if the policy is no longer needed for its intended purposes by completing a beneficiary designation form. If you have questions about bequests of life insurance policies, please contact us. We would be happy to answer any questions that you have.
*Please note: The names and situations provided are not necessarily representative of actual donor experiences but are intended to provide an example of a giving opportunity available to donors. Because the benefits may be different, you may want to click here to view an example of your benefits.