Making a gift through a life insurance policy
Beneficiary Designation
Not everyone wants to commit to making a gift in their wills or estates. Some prefer the increased flexibility of a beneficiary designation through retirement plans, life insurance policies, donor advised funds or commercial annuities. This is a very simple gift commitment to make and can be modified in the future if your circumstances change.
Paid-up Policies
If you have a paid-up life insurance policy that you no longer need, you may also consider gifting the policy to American Prairie. If you transfer the policy to a charity, such as American Prairie, the charity will become the owner and beneficiary and you will be entitled to an immediate income tax charitable deduction that year. American Prairie will receive a gift of the policy’s payout value after your lifetime.
Next steps:
- Contact Samantha Beebout at (406) 595-0947 or [email protected] for additional information on making a life insurance gift, or to discuss the different options for including American Prairie in your estate plan.
- Contact the administrator of your life insurance policy for a change-of-beneficiary form or simply download the form from your provider’s website.
- Provide our legal name (American Prairie Foundation) on the form and enter the percentage (1 to 100) you would like American Prairie to receive. You may need to include our address or federal tax ID number:
Legal Name: American Prairie Foundation
Address: P.O. Box 908, Bozeman, MT 59771
Federal Tax ID Number: 81-0541893 - Return the completed form to your insurance company.