Sentences with phrase «charity as the beneficiary of the life insurance policy»
Charity as beneficiary: Similar to leaving a bequest through a will is naming the charity as the beneficiary of your life insurance policy directly on an application.
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Of course, designating a charity as the beneficiary of a life insurance policy means it will take time before the organization receives any money.
When naming the charity as the beneficiary of the life insurance policy, you will pay the premium on the policy as you normally would.
Not exact matches
However, by naming a charity (or more than one charity) as the beneficiary of a life insurance policy, you can multiply your gift exponentially.
Another way you can provide a substantial gift to a non-profit organization is to name a charity as the primary or contingent beneficiary of your life insurance policy.
If you follow our advice and buy a term life insurance policy, your best option is to name your charity of choice as a beneficiary on your policy.
By purchasing a life insurance policy with the name of a charity as the beneficiary, individuals can provide tax free proceeds to a cause that they care about.