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 may receive a federal income tax charitable deduction and reduce your future estate tax liability. If you continue to pay premiums on the policy, each payment is tax deductible as a charitable gift.

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.

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Next Steps

  1. Contact Lindsay Cameron at 571.386.2643 or lindsay.cameron@mcsf.org for additional information on life insurance.
  2. Seek the advice of your financial or legal adviser.
  3. 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

Lindsay Cameron
Assistant Director, Gift Planning
571.386.2643
lindsay.cameron@mcsf.org

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Discover More

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

Not Sure How to Begin Planning?

Download our FREE Personal Estate Planning Kit