Gifts of Life Insurance


A Gift of Life Insurance is an easy and convenient way to support The Grotto. This gift can be made without diluting the control of a business or other investments. Assets earmarked for family members can be kept intact.

Life Insurance provides a great giving opportunity in simple ways:

  • Name The Grotto as beneficiary of your policy without changing the policy’s ownership. Your heirs will pay no tax on the asset removed from your estate.
  • Donate your policy to The Grotto and you will be entitled to charitable income tax deduction for the cash surrender value of the policy.
  • Charitable Giving Riders can be placed on your policy.

Benefits of giving Life Insurance:

  • Efficient: Gifts of life insurance allow you to make a large impact; one that is not dependent on income or cash flow. Make your greatest gift while receiving a tax deduction.
  • Private: The transaction is confidential.
  • Revocable: You may change your mind in the future if your circumstances change.
  • Meaningful: Allows you to take care of not just the people you love, but the ministries closest to your heart.

Once you decide to give the gift of life insurance, contact The Grotto and tell us of your gift.

Tip: The most tax-effective way to donate life insurance is to transfer the policy so that the charity becomes the owner and beneficiary. You are entitled to an immediate charitable deduction for income tax purposes. If you continue to pay the premiums, each payment is also a deductible charitable donation.