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