Gifts of Life Insurance

This diagram represents how to make a gift of life insurance – a gift that costs nothing during lifetime.

How It Works

  • You transfer ownership of a paid-up life insurance policy to the Sisters of Charity of Saint Elizabeth.
  • The Sisters of Charity elects to cash in the policy now or hold it.

Benefits

  • Make a gift using an asset that you and your family no longer need.
  • Receive an income tax deduction equal to the cash surrender value of the policy.

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