Life Insurance Policy

A gift of your life insurance policy is an excellent way to make a gift to Our Lady of Mount Carmel. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Our Lady of Mount Carmel. 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
• If Our Lady of Mount Carmel retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
• If Our Lady of Mount Carmel cashes in the policy, you will be able to see firsthand how your gift supports our charitable work
• If we retain the policy to maturity, or you name us as a beneficiary, once the policy matures, the proceeds of your policy will be paid to our organization so that we can use the proceeds to further our charitable work

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 Our Lady of Mount Carmel as the beneficiary of your policy.