Gifts of Insurance
A gift of your life insurance policy is an excellent way to support the ministry of your church. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of that policy. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
Flowchart: Donor makes a gift of an insurance policy to United Methodist Ministries. United Methodist Ministries either keeps the policy until maturity or cashes in the policy for its cash value.
Benefits of gifts of life insurance
- You receive a charitable income tax deduction
- If the ministry retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that the ministry pays the premiums
- If the ministry cashes in the policy, you will be able to see firsthand how your gift supports its charitable work
- If the 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 United Methodist 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.
