A life insurance policy can allow you to leave a legacy—not just for the people you love but for organizations and causes that are important to you. That’s because a charity can receive the payout from a life insurance policy.
In fact, more than a quarter of Americans who own life insurance say that one of the reasons they bought a policy was to provide a charitable gift, according to a survey by LIMRA, a financial services research and consulting organization. And it can be a smart way to give.
Because you can name more than one beneficiary, you can divide the death benefit among your loved ones and a charity. The percentage of the payout the charity gets is up to you. Forbes has an interesting article for more details. https://www.forbes.com/advisor/life-insurance/donate-to-charity/
If you have an existing policy, it’s easy to change the beneficiary to a charity.
Our tax ID is 45-4932922. You can email Tina Miller, Executive Director, for more information.