Life Insurance plans – Leave the world a better place.
Life insurance is a planning tool flexible enough to meet a variety of personal financial needs. Making a charitable gift of a life insurance policy that provides coverage in a way no longer necessary or relevant to your needs is a convenient way to fulfill philanthropic goals.
There are seven ways to give using life insurance.
- Name a charitable recipient as:
- primary beneficiary: to receive part or all of the policy proceeds;
- secondary beneficiary: to receive part or all of the policy proceeds in a case where the primary beneficiary has predeceased you;
- final beneficiary: to receive part or all of the policy proceeds if all other beneficiaries have predeceased you.
- Purchase a new policy: to make a substantial, tax-efficient gift.
- Give a current, paid-to-date policy by changing the owner and beneficiary.
- Give a policy that you're yet paying premiums on.
- Puchase a policy that will benefit your heirs, to replace a gift of cash or property.
- Purchase a policy on the life of another person if you don't qualify personally.
- Assign dividends from a policy to a charitable interest.
Your plan administrator may require the following information: Conservation Corps North Bay is a "California nonprofit public benefit foundation," incorporated in the State of California on February 6, 1985, and is classified as tax-exempt under Internal Revenue Code 501(c)3. The tax identification number for Conservation Corps North Bay is 94-2831592.
Before making a donation to Conservation Corps North Bay, we recommend that you consult your advisor or attorney for full advice on the effect of your gift.
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