Gifts of Insurance
A gift of your life insurance policy is an excellent way to make a gift to Red Cloud Indian School. If you have a life insurance policy that you no longer need, consider making a gift of your insurance policy to Red Cloud Indian School. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
Benefits of gifts of life insurance
- Receive a charitable income tax deduction
- If Red Cloud Indian School retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
- If Red Cloud Indian School cashes in the policy, you will be able to see firsthand how your gift supports Red Cloud
- If we retain the policy to maturity, or you name us as a beneficiary, once the policy matures, the proceeds of your policy will be paid to Red Cloud and the proceeds used to continue the good that is happening here
How to make a gift of life insurance
To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include Red Cloud Indian School as the beneficiary of your policy. Your insurance company may require the following information:
Our address: 100 Mission Dr., Pine Ridge, SD 57770-2100
Our EIN: 46-0275071
Red Cloud is a recognized 501-c-3 charity
If you have any questions about making a gift of a life insurance policy, please contact us. We would be happy to answer questions that you have.
Please let us know if you have already named us as a beneficiary of your life insurance policy so that we can say "thank you" and recognize you as a member of the Red Cloud Legacy Society and "Maȟpíya Lúta Owáyawa Thiyóšpaye"the Red Cloud Indian School family.
You can also designate Red Cloud Indian School as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. Your estate may benefit from an estate tax charitable deduction.
Your deduction for the gift of life insurance will depend on whether the policy has increased in value above the premiums and whether the policy is paid up or there are remaining payments to be made.