A gift of life insurance is a great way to leverage your impact at the MidwayUSA Foundation allowing you to make a sizeable gift for pennies on the dollar.
You can make a meaningful impact by naming the MidwayUSA Foundation owner and beneficiary of a life insurance policy. If your policy is not fully paid up, you can make an annual gift to the MidwayUSA Foundation to cover the annual premium payment. When the policy matures, the proceeds will be paid to the MidwayUSA Foundation to be used in accordance with your designated intentions. Click here to view the Foundation’s policies with respect to the acceptance of ownership of a life insurance policy.
Rather than transferring ownership of a policy, you may also wish to consider simply designating the MidwayUSA Foundation beneficiary of all or a percentage of an existing policy. To designate the Foundation beneficiary, please contact your life insurance provider to request a beneficiary form which will allow you to update your beneficiary information.
BENEFITS OF GIFTS OF LIFE INSURANCE
- May receive a charitable income tax deduction where ownership of policy transferred to the MidwayUSA Foundation.
- If policy not fully paid up, you may also receive a deduction for annual premium payments if the Foundation owns the policy.
- You can make a meaningful impact with modest premium payments.
- Great way to leverage your gift and enhance your legacy impact beyond what you thought possible.