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Gifts of Life Insurance
Immediate Payment and Deferred Payment
Our supporters often overlook the benefits of giving a life insurance policy to Wayne Presbyterian Church.
If you are carrying more insurance coverage than your family obligations now require, you may find a hidden gift asset in a surplus, paid-up policy. Alternately, you could create a gift for the future by taking out a new policy on your life and naming Wayne Presbyterian Church as the owner and beneficiary, thus creating an endowment gift from income rather than capital.
You must name the Church as irrevocable [you can't change the terms in the future] owner and beneficiary of an insurance policy to secure 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 create a new policy, we will pay the premiums, and you may deduct your gifts offsetting those payments.
More
Your interest in planned giving to Wayne Presbyterian Church is greatly appreciated. If you would like to learn more about gifts of life insurance, please contact Rev. Steven Harberts, Associate Pastor at stharberts@waynepres.org or (610) 688-8700; or the Chair of the Planned Giving Committeee, M. Parker Blatchford at mpblatchford@aol.com or (610) 688-9030; or complete the Information Request Form.
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