Life Insurance Policy gift

We were the beneficiary of a donors life insurance policy and we just received the money. Should it be recorded in the donor's record or the life insurance record?

Comments

  • Christine Robertson
    Christine Robertson Community All-Star
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    @Rachel Schafer Are you using the Planned Gift gift type?

    This is a gift from the donor/estate. The Life Insurance company is not a donor. They are fulfilling a contractual obligation.

  • Dan Snyder
    Dan Snyder Community All-Star
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    @Rachel Schafer I agree with @Christine Robertson, just make sure it was not recorded earlier if your org was made owner and beneficiary of the policy. Doesn't sound like it from your post, but we have had a couple donors who set it up in this way and CASE standards have you record a value at that time and nothing when the donor passes.

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