Life Insurance
Your gift of life insurance to a charitable organization can be a gift that continues in perpetuity. The proceeds and cash value from your policy will be used for the purpose you specify.
Key Advantages
- You may reap valuable tax savings.
- Your gift can be much greater than it costs you.
- Policy proceeds will be paid to the beneficiary in cash.
- The beneficiary clause can be changed. or policy ownership assigned easily and at no expense.
- You can secure the satisfaction that your contribution will support the cause of your choice.
What will my policy mean to me?
- It will give you the satisfaction in knowing that you made a difference in the future of Mount Saint Benedict Monastery.
- It will give you an opportunity to provide a memorial for yourself, your family and loved ones.
- It will give you significant federal and state income and estate tax savings because the premiums are a gift to Mount Saint Benedict Monastery.
What will my policy mean to Mount Saint Benedict Monastery?
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It will assist the sisters in developing long-range plans for a stable future.
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it will create from your small annual premium contribution, a larger gift you might otherwise be unable to make.
What are the different life insurance methods?
An outright contribution of a policy
- By assigning ownership of a policy, you obtain a valuable income tax charitable deduction.
A deferred gift of its death benefits
- You name Mount Saint Benedict as the beneficiary of your life insurance policy but retain ownership.
- While there is no income tax charitable deduction, the proceeds avoid estate tax if payable outright to the charity.
- You can name Mount Saint Benedict Monastery the primary beneficiary or the contingent successor beneficiary.
Replace gift value
- You can use life insurance to benefit your heirs, replacing the value of a contribution to the charitable organization.
If you are interested in more information about making a gift of life insurance to the Sisters of Saint Benedict, please contact Mount Saint Benedict Foundation, 629 Summit Ave., Crookston, MN 56716-2799, or email Foundation director.
Charitable Gift Annuities and Charitable Remainder Unitrusts
Memorials
Wills
Living Trusts
