For the Future
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 Bettie Brand Mothers' Empowerment Fund, Inc., or even a policy on which you are still paying premiums.
Life Insurance policies can also be used to make a gift to the Bettie Brand Mothers' Empowerment Fund, Inc. Complete and return to the insurance company a form designating that the Bettie Brand Mothers' Empowerment Fund, Inc. receives all or a portion of the death benefit associated with your life insurance policy. As an alternative to naming the Bettie Brand Mothers' Empowerment Fund, Inc. as the beneficiary, you can transfer ownership of the policy. Transferring ownership results in an immediate income tax charitable deduction and potential income tax savings in the year of the gift.
How to give through your life insurance
There are two simple ways to set up a gift of life insurance:
You can irrevocably designate Bettie Brand Mothers' Empowerment Fund, Inc. 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 Bettie Brand Mothers' Empowerment Fund, Inc. as 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.