Planned Giving Acorn Legacy Society Meet Our Donors Ways to Give Wisely Benefits of Giving Wisely Goals & Benefits Gift Plans » Assets You Can Give » Resources » Personal Illustration Contact Us Tip of the Day Privacy Disclaimer
Bequest Charitable Bargain Sale Charitable Lead Trust Remainder Annuity Trust Remainder Unitrust Retained Life Estate
Appreciated Securities Business Interests Cash Life Insurance Personal Property Real Estate Retirement Plan
Attorney Information Frequent Questions Glossary

Gifts of Life Insurance

Our supporters often overlook the benefits of giving a life insurance policy to Princeton Academy of the Sacred Heart.

If you are carrying more insurance coverage than your family obligations now require, you may find a hidden gift asset in a surplus, paid-up policy. Alternately, you could create a gift for the future by taking out a new policy on your life and naming Princeton Academy as the owner and beneficiary, thus creating an endowment gift from income rather than capital.

You must name us as irrevocable [you can't change the terms in the future] owner and beneficiary of an insurance policy to secure tax benefits from your gift. A gift of a paid-up policy produces a charitable deduction in the amount of the policy's cash surrender value or basis, whichever is less. If you create a new policy, we will pay the premiums, and you may deduct your gifts offsetting those payments.

More

To learn more about gifts of life insurance, Email us, complete the Information Request Form, or call us at 609-924-8148 so that we can assist you.