WHY CONSIDER A GIFT OF LIFE INSURANCE?
If your heirs no longer need your life insurance policy death benefit, you can easily make an impactful legacy gift by designating us as the beneficiary. Click here for more information about beneficiary designation.
If you own a whole life policy and want to realize a tax deduction, you can also transfer ownership of your policy to us.
The amount of the deduction will depend on a number of factors such as the cash value of the policy and the total of the premiums paid. If the premiums are not entirely paid and you agree to donate the funds to continue paying the premiums, those gifts will be deductible.
HOW TO PROCEED WITH A GIFT OF LIFE INSURANCE
If you want to consider transferring ownership of your policy to us, please contact Mark Cotleur, senior vice president of fund development, at 216-696-8401 or mcotleur@sistersofcharityhealth.org. We will work with you to identify the best structure for the gift agreement.