Including Heaven's Family as a Charity Beneficiary in Your Life Insurance Policy
Q: I am thinking of making Heaven's Family a charity beneficiary of my life insurance policy. While I am in good health at this point, I have no idea how long I will live—hopefully several more decades! (By the way, my children are all well-set in life and don't need any incentive to wish I was dead!) How can I find out more about making Heaven's Family a beneficiary of part of my death benefit? I want my life, and even my death, to be for the glory of the Lord.
A: Beneficiary designation is a strategic way to fund our Lord's work through Heaven's Family. In addition to life insurance, a charity such as Heaven's Family can be designated as a primary or contingent beneficiary (upon your death) of an IRA, 401(k), retirement plan, Keogh plan, SEP plan, or annuity contract.
You will need to check with the company that holds your policy to see what is required of a beneficiary in order to receive the benefit upon death. If a death certificate or other documents are required from the beneficiary, arrangements must be made for Heaven's Family to receive those documents. You will also need to contact me to exchange information necessary to include Heaven's Family as a charity beneficiary in your policy.
Keep in mind that, by law, beneficiary designations take precedence over instructions you may put in your will or trust.
More importantly to keep in mind is that Jesus is the only real insurance…I should say assurance. And the best thing you can leave your wealthy children is a testimony of your faith in Him.
David Warnock is happy to assist you with your questions regarding strategic stewardship. You can reach him at (412) 833-5826 or email him at DavidW [at] HeavensFamily [dot] org.