Four ways to make a gift of life insurance

Do you have an unneeded life insurance policy or wish to leave a gift to charity that you would not otherwise have at the end of life?

Life insurance offers the ability to make a charitable gift, today, or through your estate plans to The National Shrine of Mary, Mother of the Church.

1. Do you have a group health insurance policy through your employment?
   • Make The National Shrine of Mary, Mother of the Church a designated beneficiary. We would be grateful for any percentage.
2. A tax deduction would be available to you, if you decide to donate your life insurance policy, today, before your death, to The National Shrine of Mary, Mother of the Church. You would receive a tax deduction for the cash value of its worth at that time or for any premiums you pay to keep it in force for the charity.
   • You assign all rights in the policy to the charity.
   • The charity becomes the new owner of the policy as well as the beneficiary.
   • You continue to pay premiums (unless the policy is paid up).
   • As the owner, the charity will have access to any cash value during your life.

3. Designate The National Shrine of Mary, Mother of the Church as a beneficiary on any current term or whole life policies. You will not receive a tax deduction but, if all of your other assets are unavailable upon your death, this part of your wealth can support the mission of Mary as Mother of the Church.
   • You purchase a new policy in your name.   
   • You own the policy and can benefit from the policy as long as you are alive.
   • You will make any future payments, unless it is a single premium policy.
   • As the owner, you will have access to any cash value during your life.
   • You make the Shrine a beneficiary.
   • You can change the beneficiaries at any time.

4. Purchase a policy in the name of The National Shrine of Mary, Mother of the Church, to help you meet your charitable and philanthropic goals.
   • The National Shrine of Mary, Mother of the Church owns the policy and is the beneficiary. 
   • You will make any future payments, unless it is a single premium policy and you pay it in full at purchase. The cost to purchase it in full is tax deductible.
   • As the owner, The National Shrine of Mary, Mother of the Church will have access to any cash value during your life.
   • Premium payments are not tax deductible.

If you would like more information on how you can contribute to the mission and ministries of The National Shrine of Mary, Mother of the Church, that are supported with generous and sacrificial gifts, please contact our Director of Development Terri Lynn at tlynn@mmocs.org.

Let us not grow tired of doing good, for in due time we shall reap our harvest, if we do not give up. So then, while we have the opportunity, let us do good to all, but especially to those who belong to the family of the faith.

Galatians 6:9-10