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Naming a Charity as the Life Insurance Beneficiary in Carlsbad, CA

Naming a Charity as the Life Insurance Beneficiary in Carlsbad, CA

Men and women usually purchase life insurance in Carlsbad, CA, so their families will receive money after they pass away. The benefit might pay the policyholder’s final expenses and provide money for immediate family members. A charitable organization also can be a life insurance policy beneficiary. Anyone interested in that option will want to talk with an insurance agent about how to proceed.

People make this choice for various reasons. Some have no spouse or minor children to provide for. They have enough savings to pay for funeral expenses.

Others plan to leave an inheritance to their adult children and want a policy for life insurance in Carlsbad, CA, specifically as a charitable donation. In that situation, it’s important to consider a worst-case scenario. If an individual eventually must move to a nursing home and lives there for many years, the money can run out unless this person is very wealthy.

A solution for this potential problem is to acquire two policies. One has a family member as the beneficiary and the other a charitable organization. There is no limit to the number of policies one individual can have.

Someone might have started considering this after receiving a fundraising letter mentioning the option. There could have been a news report about a large sum being provided to an organization through an insurance policy. Naming the charitable group as a life insurance beneficiary can result in a far larger donation than would have been possible otherwise.

Contact details for one particular agency can be found at Serra Benefits & Insurance Services.

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