- Name Barakel as the owner and beneficiary.
By choosing Barakel as owner and
beneficiary, you receive a current income tax charitable deduction for the present value
of the policy.
You would continue to pay the premiums and deduct them as charitable contributions each
year. In this way, your gift may become much larger than a cash gift.
- Name Barakel as the beneficiary.
Upon your death, Barakel will receive the proceeds.
- Name Barakel as the co-beneficiary.
If you would like to provide for loved ones and
also contribute to Barakel, this plan will share the proceeds.
- Name Barakel as the secondary beneficiary.
If the first beneficiary dies before you
do, Barakel will receive the proceeds.
- Name Barakel as the residual beneficiary.
If your life insurance is a source of
retirement income, you can name Barakel to receive the funds that you do not withdraw
prior to your death.
- Assign annual dividends to Barakel.
If you receive dividends on your policies each
year, you may choose to contribute them to Barakel. The dividends may be deducted as
charitable contributions on your income tax return.
- Fund a Gift Annuity with your policy.
You can assign your life insurance policy to
Barakel and receive a Gift Annuity to provide income for you or for someone else.
You can also arrange to have the insurance proceeds establish a BArakel annuity which
will, at your death, provide life income to a surviving loved one.
