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Gifts of Insurance

A gift of your life insurance policy is an excellent way to support ALS Network. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to the Golden West Chapter. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.

Flowchart: Donor makes a gift of an insurance policy to the Golden West Chapter. The Chapter either keeps the policy until maturity or cashes in the policy for its cash value.

Benefits of gifts of life insurance

  • Receive a charitable income tax deduction
  • Receive additional income tax deductions each year you make additional contributions so that the Golden West Chapter can pay the annual insurance premiums
  • At death, the proceeds of your policy will be paid to the Golden West Chapter and we will use the insurance proceeds to continue supporting the ALS community

How to make a gift of life insurance

To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include ALS Network as the beneficiary of your policy.

Contact us

If you have any questions about making a gift of a life insurance policy, please contact us. We would be happy to answer questions that you have.

Please let us know if you have already named us as a beneficiary of your life insurance policy. We would like to thank you and recognize you for your gift.

Additional Information

You can also designate ALS Network as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. Your estate may benefit from an estate tax charitable deduction.

Your deduction for the gift of life insurance will depend on the whether the policy has increased in value above the premiums and whether the policy is paid up or there are remaining payments to be made.

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