You can make DCV the beneficiary of any life insurance policy that you already own. To name the Village as a beneficiary, request a change of beneficiary form from the insurance company. Complete and return the form to your insurer. On the form, you can designate DCV as beneficiary of part or all of the death benefits.
If you name DCV as a beneficiary, please let us know. Insurers don’t notify organizations about beneficiary designations until after the policy matures. Informing us will allow us to celebrate your generosity during your lifetime.
You can change beneficiaries at any time by completing another change of beneficiary form.
Another way to support DCV is to make DCV the owner of an existing whole life policy. If you do this, DCV can either redeem the policy for its cash value or continue paying the premiums until maturity. Also, donors often choose to continue paying the premiums on DCV’s behalf via tax-deductible donations to DCV that result in a larger eventual gift of the full payout.
To change ownership, request a change of ownership form from your insurer. Complete and return the form to your insurer, designating the Village as the owner of your whole life policy.
It’s essential that you tell DCV when the ownership is changed. DCV must decide whether to pay future premiums or redeem the policy for its cash value. Your input is a key factor in that decision.
Once DCV becomes the owner of your whole life policy, the decision is permanent.