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Life Insurance & Annuities |
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Life Insurance Bequ= est Form pdf File |
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&= nbsp; A gift of life insurance provides an opportunity to make a larger g= ift than you may have thought possible. When you transfer a policy yo= u own to St. Boniface Church as the new beneficiary, you can receive immedi= ate and future income tax deductions for the total of premiums paid or the = fair market value of the policy. You can transfer either a new or exi= sting policy to St. Boniface. With an annuity policy, transferr= ing both annuity income and residuary death benefits result in the greatest= tax benefits for the donor. While term life insurance policies do= not carry an asset value or provide for a source of continued income, they= do payout the full value upon the death of the policyholder. M= any employers provide term life insurance to their employees as one of the = benefits of employment. Consider naming St. Boniface as b= eneficiary, knowing that if you are called to God unexpectedly, a substanti= al gift will be left in your memory, one that= can be directed to support the continued viability of St. Boniface Parish = or any of its ministries and capital projects.
v Gift of a Paid Policy As your circ= umstances change, existing life insurance policies that once provided impor= tant protection may no longer be needed. If one or more of your policies no= longer fits your personal financial needs you may want to consider transfe= rring your policy making the St. Boniface Church both owner and beneficiary= . Benefits include: ·= In the year of the gift, you will receive a charitable donation receipt f= or the policy`s current cash surrender value, less any outstanding loans yo= u may have taken out against the policy.
v Gift of an existing policy on which premiums are still ow=
ed ·= In the year of the gift, you will receive a charitable donation receipt f= or the present cash value of the policy. ·= You will receive a charitable donation receipt for subsequent premium pay= ments. ·=
When St. Boniface Church owns the policy and is named as beneficiary, the=
proceeds are not subject to probate. v Gift of a new policy naming St. Boniface Church as owner = and beneficiary Through a new life= insurance policy naming St. Boniface Church as owner and beneficiary, you = can make regular contributions today and create an endowment. Benefits incl= ude: ·= You will receive a charitable donation receipt for the full amount of the= premiums you pay.
v Gift of Policy namin= g St. Boniface Church as primary &nbs= p; beneficiary You ca= n also designate a gift naming St. Boniface Church as the beneficiary of an= y type of insurance policy. Benefits include: ·= You will have the satisfaction of providing a future gift to the St. Boni= face Church while still retaining full control of the policy.
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