You can donate a paid-up policy, or even a policy on which you are still paying premiums, to a charity like Early Childhood Alliance.
Can a life insurance beneficiary be a charity?
You can name a charity such as Early Childhood Alliance as a beneficiary to your life insurance policy. You can also name more than one beneficiary and divide the amount among multiple individuals or charities.
Can I donate my life insurance policy to charity?
If you have a life insurance policy that you no longer need because of a change in your life circumstances, you can give a paid-up policy to Early Childhood Alliance, or even a policy on which you are still paying premiums.
How do I donate a life insurance policy?
There are two simple ways to set up a gift of life insurance:
- You can irrevocably designate Early Childhood Alliance as the owner and beneficiary of your life insurance policy. By doing so, you may be entitled to a generous charitable income tax deduction.
- You can name Early Childhood Alliance as an irrevocable beneficiary but retain ownership of the policy itself. Call or write to your insurance company to request a form to make this change of beneficiary.
Need Help?
If you have any questions while putting together your gift, please don’t hesitate to reach out to June Harkness.
Agency Info
Mailing Address
Early Childhood Alliance
516 E Wayne St
Fort Wayne, IN 46802
Federal Tax ID
35-0953465
