A gift of your life insurance policy is an excellent way to make a gift to the friars. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy.
Benefits to a gift of life insurance
- Receive a charitable income tax deduction
- If the Capuchin Province of St. Augustine retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
- If the Capuchin Province of St. Augustine cashes in the policy, you will be able to see firsthand how your gift supports our mission
- If we retain the policy to maturity, or you name the Capuchin friars as a beneficiary, once the policy matures, the proceeds of your policy will be paid to the Province so that we can use the proceeds to further our lives and ministries
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 the Capuchin Province of St. Augustine 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 your questions.
Please let us know if you have already named us as a beneficiary of your life insurance policy. The Capuchin friars would like to thank you and recognize you for your gift.
You can also designate the Capuchin Province of St. Augustine 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 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.