There are many types of life insurance and several ways to make a charitable gift of life insurance for the benefit of the Cancer Support Community of Greater St. Louis. Cancer Support Community will be happy to visit with your life insurance agent to help you structure a gift through life insurance.
Paid Up Policy
Many people bought a life insurance policy to pay for a home in the event of a breadwinner's death. Now the house is paid for and policy is in a safety deposit box. If you own such a policy that is still in force, and you no longer need it, gifting it to Cancer Support Community will net a current income tax deduction for the cash value of the policy.
Name Cancer Support Community as a Beneficiary
Cancer Support Community can be named as a full or partial beneficiary of an insurance policy you currently own. While there is no income tax deduction for naming a charity as a beneficiary of a policy the donor owns, it does remove the insurance policy proceeds given to CSC from the donor's estate.
Establish a New Insurance Policy
Naming the Cancer Support Community as the owner and beneficiary of a life insurance policy not only provides a future gift for CSC, but also nets a current income tax deduction for the donor in the amount of single premium or annual premium the donor makes in support of the policy.
Because we have recently changed our name and because we are affiliated with a national organization, we ask donors and their professional advisors to be certain to include our full legal name in their estate documents. This is information to include:
Cancer Support Community of Greater St. Louis
1058 Old Des Peres Road
St. Louis, MO 63131
This is not intended as legal or financial advice. please consult your professional advisors.