A gift of life insurance is for you if…
Our supporters often overlook the benefits of giving a life insurance policy to the Diocese.
If you are carrying more insurance coverage than your family obligations now require, you may find a hidden gift asset in a paid-up policy. Alternately, you could create a significant gift by taking out a new policy on your life and naming Diocese of Trenton as the owner and sole beneficiary, thus creating a future gift at a lower cost. If the Diocese is both the owner and sole beneficiary, the premium payments are tax deductible.
You must name us as the irrevocable [you can't change the terms in the future] owner and beneficiary of the insurance policy to secure income tax benefits from your gift. A gift of a paid-up policy produces a charitable deduction in the amount of the policy's cash surrender value or basis, whichever is less.
If you are interested in purchasing a new policy and donating it to the Diocese, please call for more details.