Gifts of Insurance
A gift of a life insurance policy is an excellent way to make a gift to a parish, school, ministry or fund within the Catholic Foundation. For example, you may have a policy that has outlasted its original purpose.
*CFNEK: this gift will go to a Parish, School, Ministry, or fund held by the Catholic Foundation.
Important benefits to You and the Recipient of Your Gift of Life Insurance
- You receive a charitable income tax deduction
- If you donate a life insurance policy to a parish, school, ministry, or a fund held by the Catholic foundation and they retain the policy to maturity, if you make annual gifts to the organization so they can pay the premiums, you can deduct that annual gift.
- If they cash in the policy, you will be able to see firsthand how your gift supports our charitable work
- If the cause that received your gift of life insurance RETAINS the policy to maturity, or you name them as a beneficiary, once the policy matures, the proceeds of your policy will be paid to their organization so they can use the proceeds to further their charitable work.
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 a parish, Catholic school, ministry, or a fund within the Catholic Foundation as the beneficiary of your policy.
For a complete list of Fund Categories and their descriptions held by the Catholic Foundation of Northeast Kansas, CLICK HERE.
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.
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.