Gifts of Insurance
A gift of your life insurance policy is an excellent way to make a gift to Holston Conference of the United Methodist Church Foundation. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Holston Conference of the United Methodist Church Foundation. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
Benefits of gifts of life insurance
- Receive a charitable income tax deduction
- Receive additional income tax deductions each year that you make additional contributions so that Holston Foundation can pay the annual insurance premiums to benefit your designated ministry
- At death, the proceeds of your policy will be paid to our organization and the insurance proceeds will continue to support a legacy of mission
How to make a gift of life insurance
To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include Holston Conference of the United Methodist Church Foundation as the beneficiary of your policy.
If you have any questions about making a gift of a life insurance policy, please contact us. We would be happy to answer questions that you have.
Please let us know if you have already named us as a beneficiary of your life insurance policy. We would like to thank you and recognize you for your gift.
You can also designate Holston Conference of the United Methodist Church Foundation as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. Your estate may benefit from an estate tax charitable deduction.
Your deduction for the gift of life insurance will depend on the whether the policy has increased in value above the premiums and whether the policy is paid up or there are remaining payments to be made.
A charitable gift annuity is a great way you can make a gift to our organization and benefit. You transfer your cash or property to our organization and we promise to make fixed payments to you for life at a rate based on your age.