Gifts of Life Insurance
A gift of your life insurance policy is an excellent way to make a gift to Claremont McKenna College. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Faith In Action. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
Benefits of gifts of life insurance
- Receive a charitable income tax deduction
- If Faith In Action retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
- If Faith In Action cashes in the policy, you will be able to see firsthand how your gift supports our charitable work
- If we retain the policy to maturity, or you name us as a beneficiary, once the policy matures, the proceeds of your policy will be paid to Faith In Action so that we can use the proceeds to further our 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 Williamsburg Area Faith In Action, Inc. as the beneficiary of your policy.
If you have any questions about gifts of life insurance, please Contact Us. Call 757-258-5890 or email firstname.lastname@example.org. We would be happy to assist you and answer your questions.