Life Insurance Gift

Life Insurance Gift

The Braille Monitor_______

October 1997

(next)

(contents)

Life Insurance

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.