To Gift Your Policy to The Reaching Nations Fund:
As you and your advisor decide that a gift of life insurance is appropriate in your charitable giving, the information and questions listed below should be reviewed and discussed with National Christian Foundation (NCF):
- What is the type of policy? Whole life, Universal Life, or Term?
- Is the issuing company financially sound?
- Are you willing to continue to make premium payments (if applicable)?
- What is your cost basis in the policy?
- What is the current cash value of the policy?
- Are there currently any loans against the policy?
- In what is the cash value currently invested?
The above items allow NCF to understand the asset and answer relevant questions, such as, “Is the asset transferable?” and “What is the wisest method of transfer?” NCF reviews the gift and submits a gift offer letter to you as owner. As the decision is made to proceed, a transfer document is drawn up, either by NCF or your legal counsel.
There is also the option to name Reaching Nations as a beneficiary on your policy.