One way we can feel closer to our community is through charitable giving. According to Giving USA, Americans contributed an estimated $390.05 billion to U.S. charities in 2016.1 Whether you’re volunteering your time or donating money, you can feel good about helping to further a cause you believe in.
Is there a particular nonprofit or cause you care deeply about? Did you know that you can continue to support them after you’ve passed away? Maybe you wish to donate to a local school system, or worthy global foundation. Regardless of what you want to support, listing an organization as a beneficiary on your life insurance policy means that you can fulfill a legacy of giving – and magnify the difference you make with every dollar you leave behind.
The advantages of a charitable beneficiary
There are a variety of reasons for purchasing life insurance – from helping to financially protect your spouse and children, to helping pay for final expenses. But life insurance also offers the ability to provide for your favorite charities. Perhaps you’ve thought about establishing a scholarship fund or helping a preferred charity expand its facilities. The benefits from your life insurance policy that are paid after you pass can help make your vision a reality.
Listing an organization as a beneficiary on your life insurance policy means that you can fulfill a legacy of giving.
Putting your policy plan into action
How do you move forward with your charitable plan? Contact a life insurance specialist who can help you with the process, whether it’s setting up a brand-new policy or adding a beneficiary to one you already have. Like with all beneficiaries, you can always change or add throughout your lifetime.
A life insurance specialist will help identify your needs and walk you through how to distribute your policy benefit among charities and other beneficiaries. By setting these plans in motion now, you can feel confident that you’ll be making a gift with lasting, positive impact.
Interested in a policy with a philanthropic twist? Contact a life insurance specialist from Amica Life at 844-753-5433, and they can help you identify the best options to meet your goals.
1 Giving USA 2017: Total Charitable Donations Rise to New High of $390.05 Billion, Giving USA, 2017.
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