Gifts of Insurance
A gift of your life insurance policy is an excellent way to make a gift to Legacy Deo. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Legacy Deo. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
Benefits of gifts of life insurance
- Receive a charitable income tax deduction
- If Legacy Deo retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
- If we convert the policy to cash, you will be able to see firsthand how your gift supports our charitable mission
- If we retain the policy to maturity, or you name us as a beneficiary, the proceeds of your policy will be paid to our organization upon maturity and used to further our charitable mission
How to make a gift of life insurance
To make a gift of life insurance, contact your life insurance provider to request a beneficiary designation form. Name Legacy Deo as either a full, partial, or contingent beneficiary of your policy.
If you have any questions about making a life insurance policy gift, please contact us. We are happy to answer your questions.
Please let us know if you have already named us as a beneficiary of your life insurance policy. We would like to thank you and recognize you for your gift.
You can also designate Legacy Deo as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. Your estate may benefit from an estate tax charitable deduction.
Your deduction for the gift of life insurance will depend on whether the policy has increased in value above the premiums and whether the policy is paid up or there are remaining payments to be made.