Insurance Policy beneficiary

Life Insurance Policy

Many people are using their life insurance to make a significant gift to organizations such as ours. Individuals can do this by using policies they already have or policies they purchase for specific gift purposes. Here are some ways to consider.

 Give a paid-up policy to Friends, Parish or Schools. You will receive a tax deduction based on the current value of the policy.

 Name Friends, Parish or Schools as owner and beneficiary of a continuing policy. You will get an income tax deduction for the value of the policy when it is transferred, and future premium payments can be deducted as gifts. You can make a large gift in the future at small costs now. Upon death of the insured, your named beneficiary will receive the face value of the policy.

 Name Friends, Parish or Schools as a remainder beneficiary. This permits us to receive the proceeds after the deaths of the primary and secondary beneficiaries.

For gifts to Friends of Shawe and Pope John Schools, Inc., we encourage your gift to be to the Permanently Restricted Endowment where the principal remains intact and earnings are used to provide funds to the schools, but any gift is welcome.
Together with your legal and financial advisors, decide the best way to get the most from your life insurance for yourself, your family, and your philanthropic goals.

Content of discussions which take place between Friends and donors will be held in confidence and will not be discussed outside of official meetings and processes.

11 2012