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Gifts of Insurance

A gift of your life insurance policy is an excellent way to make a gift to the Catholic Church. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to your parish, a Catholic school, or the Bishop to use where most needed. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.

Flowchart: Donor makes a gift of an insurance policy to Catholic Church. Catholic Church either keeps the policy until maturity or cashes in the policy for its cash value.

Benefits of gifts of life insurance

  • Receive a charitable income tax deduction
  • If your parish, a Catholic school, or the Catholic Diocese of Orlando retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
  • If your parish, a Catholic school, or the Catholic Diocese of Orlando 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 John Noonan, Bishop of the Catholic Diocese of Orlando Florida, a corporation sole, and his successors and assigns as the beneficiary of your policy.

Contact us

If you have any questions about making a gift of a life insurance policy, please contact us. We would be happy to answer questions that you have.

Please let us know if you have already named us as a beneficiary of your life insurance policy. We would like to thank you and recognize you for your gift.

Additional Information

You can also designate The Catholic Foundation of Central Florida, Inc. 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 the 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.

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The Catholic Foundation of Central Florida, Inc.
50 E. Robinson St., Orlando, FL 32801
P.O. Box 4905 Orlando, Florida 32802
Phone: 407.246.4889 | Fax: 407.246.4939
catholicfoundation@cfocf.org