Gifts of Insurance
A gift of your life insurance policy is an excellent way to partner with Moody Bible Institute. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Moody. Moody may either maintain the policy until it matures or cash in the policy for its cash value to immediately support the ministry.
Benefits of gifts of life insurance
- Receive a charitable income tax deduction
- Receive additional income tax deductions each year that you make additional contributions so that Moody Bible Institute can pay the annual insurance premiums
- At death, the proceeds of your policy will be paid to our organization and we will use the insurance proceeds to continue 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 Moody Bible Institute as the beneficiary of your policy.
You can also designate Moody Bible Institute 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.
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.