Powerful and Simple Way to Support Veterans
When the original purpose for a life insurance policy no longer applies – such as educating children now grown or providing financial security for a spouse – your policy can become a powerful and simple way to support veterans and their families. There are three ways to give life insurance to the VFW:
Name us a beneficiary of the policy. This gift is as simple as updating your beneficiary designation form with the policy holder. You can designate the VFW as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary does not survive you.
Make an outright gift of an existing policy. You can name us as owner and beneficiary of an existing policy. You qualify for a federal income tax charitable deduction when you itemize on your taxes. If you continue to pay premiums on the policy, each payment is tax deductible as a charitable gift when you itemize.
Make an outright gift of a new policy. You can take out a new policy and irrevocably name the VFW as the owner and the beneficiary of the insurance contract. This method may be particularly attractive for the younger donor. Whether you make one single premium payment for the policy or pay annual premiums, each payment is tax deductible as a charitable gift when you itemize.
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- Contact Chrissy Mason at 816.968.1119 or email@example.com for additional information on life insurance.
- Seek the advice of your financial or legal advisor.
- If you include the VFW in your plans, please use our legal name and federal tax ID.
Legal Name: Veterans of Foreign Wars of the United States
Address: 406 West 34th Street, Kansas City, MO 64111
Federal Tax ID Number: 44-0474290