A Meaningful and Easy Way to Support the Archdiocese Of Chicago
When the original purpose for a life insurance policy no longer applies—such as educating children now grown or providing financial security for a spouse—your policy can support our work. There are three ways to give life insurance to Archdiocese of Chicago:
- Name us a beneficiary of the policy (Link)
This gift is as simple as updating your beneficiary designation form with the policy holder to have the Archdiocese of Chicago as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so we will receive the balance of your policy only if your primary beneficiary doesn't survive you.
- Make an outright gift of an existing policy
You can name us as owner and beneficiary of an existing policy. You may receive a federal income tax charitable deduction and reduce your future estate tax liability. If you continue to pay premiums on the policy, each payment is tax deductible as a charitable gift.
- Make an outright gift of a new policy
You can take out a new policy and irrevocably name the Archdiocese as the owner and the beneficiary of the insurance contract. This method may be particularly attractive for the younger donor. Whether you make one single premium payment for the policy or pay annual premiums, each payment is tax deductible as a charitable gift.