Bequest of insurance

Shelby bought a life insurance policy naming her donor-advised fund at the Community Foundation as the primary beneficiary. She also provided instructions on how she would like the proceeds distributed from her fund. She paid the annual premiums during her lifetime. Upon her passing, the proceeds were distributed according to her wishes, which included set amounts to seven organizations of which she was an avid supporter during her lifetime – including Boys & Girls Clubs, Neighborhood Christian Centers, and Rhodes College. Per her wishes, the remainder was used to establish donor-advised funds for her three children to encourage them to continue a family tradition of philanthropic engagement with the community.

Perhaps you want to help the community, but are not ready to give up ownership of your life insurance policy. Instead of assigning the policy, you can name your fund at the Community Foundation as a beneficiary of your insurance and designate the organizations you want the proceeds to support. Email Director of Development Caroline Kuebler or call her at (901) 722-0036 to learn more.