The Cabbage Patch Settlement House, Inc.

Gifts through Life Insurance

You can make a gift of either an existing life insurance policy or a new policy for the benefit of The Cabbage Patch.

• An existing policy originally purchased to fill a need that no longer exists would be a meaningful gift to The Cabbage Patch and would allow you a tax deduction equal to the policy’s replacement value (essentially the cash surrender value).
• Any existing premiums paid would be deductible.
• You can designate The Cabbage Patch as the owner and beneficiary of a new life insurance policy.
• Annual premiums paid by you would be deductible.

Please keep in mind that this is only a broad overview of a few options and that there are several tax implications that may apply to your particular circumstances and that tax laws may be revised.  

For further information, contact Jennifer Scott at (502) 753.4446.