Life Insurance

Life insurance's primary goal is to protect our loved ones. When life insurance has served its original purpose, it can be a wonderful and significant gift to First Presbyterian Church Stillwater.

Steps to Gift Insurance

• Request a designation form from your insurer.
• Name First Presbyterian Church Stillwater as owner and beneficiary of your paid-up life insurance policy (see table below for other strategies). When making First Presbyterian Church Stillwater the owner and/or beneficiary of an insurance policy, please contact us to ensure your request is honored.
• You are eligible for a tax deduction for the cash value of the policy.
• Your generous gift of an existing insurance policy may be kept for future benefit or cashed in by First Presbyterian Church Stillwater.

Here are some other ways to make a gift of life insurance:

• Donate a paid-up policy (Deduct the approximate cash-surrender value)
• Purchase a new life insurance policy (Deduct the premiums if First Presbyterian Church Stillwater is named the owner)
• Donate a policy where you continue to pay premiums (Deduct the approximate cash value and future premiums)
• Name First Presbyterian Church Stillwater as the primary, secondary or contingent beneficiary (No immediate tax benefits available, but the asset is not included in your taxable estate)