Providing money at a time when money is needed, life insurance serves a very important role for many families. However, as times change, so do our families and their needs. If time has diminished or alleviated your need for life insurance, two options may exist for you.
- You may donate an existing policy to the Surfrider
Foundation. In this case, the value of your
gift is determined to be approximately the current
net cash value of the policy at the time of the gift. To
donate an existing policy you typically must request
a change of ownership and beneficiary form from your
insurance agent and then contact Steve Blank, Surfrider
Foundation’s Director of Development at 800-743-SURF
x. 40 or info@surfrider.org
- You may name the Surfrider Foundation as a beneficiary
of all or a percentage of your existing life insurance
policy. To name the Surfrider Foundation as a
beneficiary of your existing life insurance policy,
all you need to do is ask the life insurance company
for a change of beneficiary form and simply name the
Surfrider Foundation as your primary or contingent
beneficiary. This will eliminate any tax implications
of the policy for your heirs.
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