Gifts of Insurance
A gift of your life insurance policy is an excellent way to make a gift to your church or another ministry. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to charity. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
Gift of Insurance
Insurance
Charity
Benefits of gifts of life insurance
- Receive a charitable income tax deduction
- If charity retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that the charity can pay the premiums
- If the charity cashes in the policy, you will be able to see firsthand how your gift supports ministry
- If the charity retains the policy to maturity, or you name the charity as a beneficiary, once the policy matures, the proceeds of your policy will be paid to the charity so that it can use the proceeds to further ministry
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 the church or ministry of your choice as the beneficiary of your policy.
Contact us
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.