A gift of life insurance to Friends of Strays can be a way to make a significant donation even though you may not be a wealthy person. Friends of Strays accepts gifts of life insurance either as a beneficiary of a policy or as the sole owner and sole beneficiary. Your gift will help Friends of Strays continue its lifesaving work.
If you have existing policies for which you no longer need the coverage, consider assigning ownership to Friends of Strays. By naming Friends of Strays as both owner and beneficiary, you get a tax deduction and you can make a generous gift at low cost. You may take an immediate tax deduction for the cost basis or surrender value, whichever is less.
You can also name Friends of Strays as a primary life insurance beneficiary or as a contingent beneficiary should your other beneficiaries not survive you. To make this gift, simply contact your insurance carrier and request a beneficiary form.
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