Gifts of Life Insurance

Planned Giving Graphics4

 

Donate an Existing Policy

You can irrevocably designate the National Cowboy & Western Heritage Museum (Tax ID#30-0341029) as the owner and beneficiary of an existing policy. If the policy is fully paid up or otherwise has an initial value, you will be able to claim a current income tax charitable deduction at the time of the contribution for the approximate cash surrender value of the policy. In addition, if the policy is not yet fully paid up, you will continue to make the annual premium payments as they are due and will be able to claim a tax deduction for each payment.

Designate the Museum as Beneficiary

If you have a policy that has not matured for outright donation, you can create a wonderful legacy by designating the Museum as a partial or full beneficiary of an existing policy. You will continue to retain ownership of the policy and flexibility to change your beneficiary designation later if your circumstances change, but any policy proceeds distributed to the Museum will be exempt from estate tax in your estate and create your Western Legacy.

 

How It Works

  • You transfer ownership of a paid-up life insurance policy to the National Cowboy & Western Heritage Museum.
  • The Museum elects to cash in the policy now or hold it.

Benefits

  • Make a gift using an asset that you and your family no longer need.
  • Receive an income tax deduction equal to the cash surrender value of the policy.

We are pleased to speak with you in confidence about the opportunities available to support the Museum. We are also happy to share more information with you about planned-gifts and how they can meet your personal, financial and philanthropic goals.

For more Information about planned-gifts and leaving your Western Legacy please contact (405) 478-2250 ext. 288 or jtaylor@nationalcowboymuseum.org.