Life insurance can be used to benefit the mission of the Sisters of the Holy Family in two principal ways: first, for the person who is currently making cash gifts; and, second, for the person who is planning to leave a bequest to the Sisters in his/her WILL.

The value of life insurance is guaranteed and there is no doubt that the Sisters of the Holy Family will collect the face amount of the policy and use it in your name for their ministry needs and the care of their frail and elderly Sisters.

You do not impair other assets which may be left for your family. All you are giving up is the premium.

The death proceeds of the policy paid to the Sisters of the Holy Family are not subject to federal estate tax or probate and other estate administrative costs.

Your gift of a life insurance policy to the Sisters of the Holy Family and the premiums paid offer substantial tax advantages to you. Your out of pocket cost is reduced by the current income tax deduction. Consult your tax advisor or insurance broker for details.

There are three common methods of making charitable gifts of life insurance.They are:

1. Give away an existing insurance policy.This will provide an income tax deduction for its value which will approximate its cash value.

2. Name the Sisters of the Holy Family the irrevocable beneficiary or irrevocable owner of the policy. This will make the premium payments income tax deductible, regardless of the manner of payment.

3. Create insurance trusts. Make the trust the irrevocable beneficiary and direct that the proceeds be used for the Sisters of the Holy Family.

For more information, consult your insurance broker or tax advisor.

More information on:

• Wills
• Life Insurance
• Appreciated Property
• Trusts
• Additonal information