You may choose to support CBMC International by naming them as a beneficiary to a life insurance policy. Life Insurance can be a very flexible tool in estate-based philanthropy. As with other giving vehicles, you can help CBMC International while also receiving tax benefits for you and your heirs. Customarily, you name your spouse, children, parents, relatives, or friends as beneficiaries of life insurance. However, it is also possible to name one or more nonprofit institutions. This provides you with an opportunity to make a significant gift with little expenditure.
If your policy is paid up you are eligible for a charitable deduction equal to your cost basis or the replacement value of the policy, whichever is less.
Designing Your Will and Estate Plan through careful planning, you can utilize charitable giving tools to maximize the impact of your estate for your heirs and the charities you wish to support.
The estate planning staff at The National Christian Foundation know and understand the importance of philanthropy as part of your overall goals. They are available to help you explore the many options in shaping your estate design.