When the original purpose for a life insurance policy no longer applies—such as educating children now grown or providing financial security for a spouse—it can become a powerful and simple way to support our work. There are three ways to give life insurance to Ronald McDonald House Charities of San Diego:
Name us a beneficiary of the policy. This gift is as simple as updating your beneficiary designation form with the policy holder. You can designate us as the primary beneficiary for a percentage or specific amount. You also can make us the contingent beneficiary, so that we will receive the balance of your policy only if your primary beneficiary doesn't survive you.
Make an outright gift of an existing policy. You can name us as owner and beneficiary of an existing policy. You qualify for a federal income tax charitable deduction when you itemize on your taxes. If you continue to pay premiums on the policy, each payment is tax deductible as a charitable gift when you itemize.
Make an outright gift of a new policy. You can take out a new policy and irrevocably name the House as the owner and the beneficiary of the insurance contract. This method may be particularly attractive for the younger donor. Whether you make one single premium payment for the policy or pay annual premiums, each payment is tax deductible as a charitable gift when you itemize. This is an excellent way for you to make a significant gift to the House—modest payments for policies are spread out over the years and will enable you to leave a significant gift that you may not otherwise be able to make.