Life insurance constitutes a very special gift to the National Federation of the Blind. A relatively easy and direct form of planned giving is a new life insurance policy. You can make the NFB the beneficiary and owner of a life insurance policy and receive a tax deduction on the premium you pay.
For example, at age fifty you purchase a $10,000 whole life insurance policy on yourself and designate the NFB as beneficiary and owner of the policy. The premium cost to you is fully tax-deductible each year. You may even decide to pay for the entire policy over a specific period of time, perhaps ten years. This increases your tax deduction each year over the ten-year period and fully pays up your policy.
You may, however, already have a life insurance policy in existence and wish to contribute it to the NFB. By changing the beneficiary and owner to the National Federation of the Blind, you can receive tax savings, depending on the cash value of the policy. Your attorney, insurance agent, or the National Federation of the Blind will be able to assist you if you decide to include the NFB in your planned-giving program through life insurance. For more information contact the National Federation of the Blind, Special Gifts, 1800 Johnson Street, Baltimore, Maryland 21230-4998, phone (410) 659-9314, fax (410) 685-5653.