Life Insurance

 

MEOW co. accepts gifts of life insurance either as the beneficiary of a policy or as the sole owner and sole beneficiary. Either way, we can use these gifts to save the lives of homeless cats & kittens all throughout California.

You can name MEOW co. as a primary life insurance beneficiary or as a contingent beneficiary should your other beneficiaries not survive you. After your lifetime, the benefits from your policy pass to MEOW co., free of federal estate tax. To make this gift, simply contact your insurance carrier and request a beneficiary form. Here are some benefits to you:

  • Simple to give: Involves little effort or paperwork
  • Financial advantage: Continued ownership of your policy
  • Flexibility: You can change your mind and your beneficiaries at any time
  • Future tax savings: Removes the asset from your potential gross taxable estate
  • Legacy of kindness: Your gift will help MEOW co. continue its lifesaving work

Example: Years ago, Dorothy bought a life insurance policy to protect her family. Her family no longer needed this protection, so she decided to name MEOW co.as the life insurance beneficiary. After Dorothy’s lifetime, the policy will benefit homeless cats through MEOW co.’s work.

Making an outright gift of a paid-up insurance policy: Another option is to donate your paid-up life insurance policy to MEOW co.. If the policy has a cash value, MEOW co. would have the option of either holding the policy until the maturity date or surrendering the policy to receive the policy’s current cash value. Here are some benefits to you:

  • Income tax savings: You’re entitled to a current income tax deduction
  • Future tax savings: Removes the asset from your potential gross taxable estate
  • Legacy of kindness: Your gift will help MEOW co. continue its lifesaving work

Example: Art bought a life insurance policy years ago that he now wants to donate to MEOW co.. Since he gave the policy to us, Art can claim an income tax charitable deduction. The total amount of the policy is removed from his estate, and we will use the gift to help homeless cats & kittens at the No-Kill Cat Shelter and throughout California.