Gifts of Life Insurance

How it works:

  • You transfer all or part of the proceeds of your insurance policy to Good Shepherd Hospice.
  • Designate Good Shepherd as an irrevocable beneficiary to receive an income tax deduction.
  • Good Shepherd may surrender the policy for its cash value.
  • Name Good Shepherd Hospice as a beneficiary of your policy upon death.

Benefits:

  • Make a gift using an asset that you no longer need for family protection.
  • Receive an income tax deduction equal to the cash surrender value of the policy.
  • If premiums remain to be paid, you can receive income tax deductions for contributions to Good Shepherd Hospice to pay these premiums.
  • You can make a substantial gift on the installment plan

For more information, please call Danielle Perillo, Foundation Director, at 631-828-7605

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