Giving Through Life Insurance
Gift of Life Insurance
In some circumstances, the original purpose of a life insurance policy no longer applies. Perhaps your children are fully grown, or you no longer need your policy in place to provide financial security for a spouse. In this case, your life insurance policy can become powerful way to support our mission.
There are three ways to gift life insurance to USA for UNFPA:
Name us a beneficiary of the policy. The process is as simple as updating your beneficiary designation form with your life insurance policy holder. You can designate us as the primary beneficiary for a percentage or specific amount of your policy. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn’t survive you.
Make an outright gift of an existing policy. If you name us as owner and beneficiary of an existing policy, you could qualify for a federal income tax charitable deduction when you itemize on your taxes. If you continue to pay premiums on the insurance policy, each payment is tax deductible as a charitable gift if you itemize.
Beneficiary Designations
If you do not wish to commit to making an outright gift in your will or estate, there are still options to support USA for UNFPA in your legacy plan through a beneficiary designation.
You could use:
-IRAs and retirement plans
-Life insurance policies
-Donor Advised Funds
-Commercial Annuities
It is quite simple to name USA for UNFPA as a beneficiary. You first request a change of beneficiary form from your policy administrator or download one from your providers website. Make your desired changes, and return to the form to establish your gift.
NEXT STEPS
1. Seek advice from your financial or legal advisor to confirm your plans.
2. Contact our Donor Care Specialist at (646) 649-9108 or info@usaforunfpa.org to confirm your legacy gift to USA for UNFPA, along with your gift designations and preferences.
3. To include USA for UNFPA in your legacy plans, please use our legal name and federal tax ID as noted below: