Life Insurance Gift

You can make a large gift with little cost to yourself through a gift of life insurance to Saint Thomas Health Fund. Policies may be new, have premiums remaining to be paid or be a fully paid policy that you have owned for years.

For the gift to be tax deductible, Saint Thomas Health Fund must be the owner and beneficiary. If premiums remain to be paid on a policy in this instance, the payment will be a deductible contribution.

Saint Thomas Health Fund can also be named as the beneficiary of a policy that it does not own. This provision will not provide any current tax advantages, but the money passing to Saint Thomas Health Fund at the insured’s death will quality for the federal estate tax charitable deduction.

Benefits

• Tax deduction for premiums paid by donor
• Avoid estate taxes and probate costs