Gift of Life Insurance
A gift of life insurance can provide a significant charitable deduction. You can donate a policy that you currently own but no longer need or purchase a new policy. To claim a charitable deduction, you must designate St. Catherine’s as both the owner and beneficiary. The full cash value of a donated policy may be deductible, as well as any continuing premium payments that you make.
Many people have life insurance policies purchased to protect young children who have long since grown up and left home. Policies with a cash value often remain in force, even though they have outlived their usefulness.
Such a policy can help St. Catherine’s in one of two different ways. Given ownership of the policy, the School can redeem it for an amount close to its cash value. OR if made beneficiary, the School may hold the policy to receive the ultimate death benefit, assuming any required premiums are paid in the interim.
* You can deduct premium payments for insurance policies if the School is both the policy owner and beneficiary.
Located in the heart of Richmond, Virginia, St. Catherine’s School is a private, all-girls pre-K, kindergarten, elementary, middle and high school. We provide a well-rounded educational experience for girls from communities across Richmond, Chesterfield, Henrico and all of central Virginia. St.Catherine’s all-girls educational experience is rooted in more than a century of history and tradition. From our revolutionary past to our dynamic present, St. Catherine’s has always focused on preparing students for a boundless future.
