3 Ways to Give Life Insurance
Make a powerful gift that honors your commitment to the Corps
When the original purpose of a life insurance policy no longer applies—such as supporting children now grown or providing financial security for a spouse—your policy can become a powerful and simple way to support the good work of the Marine Corps Scholarship Foundation. There are three ways to give the gift of life insurance:
Name the Scholarship Foundation a beneficiary of the policy. This gift is as simple as updating your beneficiary designation form with the policy holder. You can designate the Scholarship Foundation 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 doesn't 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 Scholarship Foundation as the owner and the beneficiary of the insurance contract. This method may be particularly attractive for a 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.
See How It Works
- Contact Lindsay Cameron at 571.386.2643 or email@example.com for additional information on life insurance.
- Seek the advice of your financial or legal adviser.
- If you include the Scholarship Foundation in your plans, please use our legal name and federal tax ID.
Legal Name: Marine Corps Scholarship Foundation Inc.
Address: 909 N. Washington Street, Suite 400, Alexandria, VA 22314
Federal Tax ID Number: 22-1905062
Here to Help
Director, Gift Planning
Learn more about this simple gift by downloading your FREE copy of our informative guide Change Lives With Life Insurance.Change Lives With Life Insurance