Make your own free website on Tripod.com
 

Christ Temple
Life Insurance


An Affordable Major Gift
 
Tax Benefits
 
Frequently Asked Questions
 
Let's Sum It All Up
This information is of a general nature only. For specific legal advice and assistance, you should contact your own attorney.

Return to Charitable Giving Index


An Affordable Major Gift

Are you looking for a way to support evangelism? Do you wonder if you have the available funds?

There is a way for you to provide a gift to help further the ministry of the Christ Temple Evangelistic Association (Christ Temple)!

Giving a life insurance policy may be the answer you've been seeking.

A gift of life insurance can be an easy method of making a substantial contribution. It allows flexibility while providing significant tax benefits.

More important, you receive the satisfaction of knowing that your gift will enable us to reach others with the Gospel of Jesus Christ.

When you give to Christ Temple, you support a continuing worldwide program of Christian evangelism.


Return to Life Insurance Index

Tax Benefits

Return to Life Insurance Index


Frequently Asked Questions

  1. Why should I consider a gift of life insurance?
     
  2. What choices do I have?
     
  3. What options are available if I purchase a new life insurance policy as a charitable gift?
     
  4. What tax expense can arise when I give an exisitng policy to Christ Temple?
     
  5. How do I make a gift of life insurance?
 
Return to Life Insurance Index

  1. "Why should I consider a gift of life insurance?"

    You may have originally bought a policy to provide for your children, to protect your home mortgage, or to secure retirement funds.

    If you no longer need this financial protection, you may wish to donate your policy as a gift to an organization that will continue to promote the values you believe in.

    Return to Questions List

  2. "What choices do I have?"

    • Name Christ Temple as the owner and beneficiary.

      By choosing Christ Temple as owner and beneficiary, you receive a current income tax charitable deduction for the present value of the policy.

      You would continue to pay the premiums and deduct them as charitable contributions each year. In this way, your gift may become much larger than a cash gift.

    • Name Christ Temple as the beneficiary.

      Upon your death, Christ Temple will receive the proceeds.

    • Name Christ Temple as the co-beneficiary.

      If you would like to provide for loved ones and also contribute to Christ Temple, this plan will share the proceeds.

    • Name Christ Temple as the secondary beneficiary.

      If the first beneficiary dies before you do, Christ Temple will receive the proceeds.

    • Name Christ Temple as the residual beneficiary.

      If your life insurance is a source of retirement income, you can name Christ Temple to receive the funds that you do not withdraw prior to your death.

    • Assign annual dividends to Christ Temple.

      If you receive dividends on your policies each year, you may choose to contribute them to Christ Temple. The dividends may be deducted as charitable contributions on your income tax return.

    • Fund a Gift Annuity with your policy.

      You can assign your life insurance policy to Christ Temple and receive a Gift Annuity to provide income for you or for someone else.

      You can also arrange to have the insurance proceeds establish a Christ Temple annuity which will, at your death, provide life income to a surviving loved one.

    Return to Questions List

  3. "What options are available if I purchase a new life insurance policy as a charitable gift?"

    • You can choose a fixed face amount:

      The total amount of the gift is determined from the start and does not change. The premiums, however, will diminish over time.

    • You can choose a fixed premium:

      By paying a specified premium per month or year, you will provide a growing insurance gift.

    • You can choose a group policy:

      If you are part of a group, you may be able to take out a policy that does not require passing a physical examination.

    Return to Questions List

  4. "What tax expense can arise when I give an existing policy to Christ Temple?"

    If the present value of your policy is greater than the accumulated premiums you have paid, you will have ordinary income to report on your income tax return. However, you can avoid current income tax by choosing your cost basis (total premiums paid) as your charitable deduction.

    Return to Questions List

  5. "How do I make a gift of life insurance?"

    1. Decide if you want Christ Temple to be the owner of the policy or to be the beneficiary only.

    2. Contact your life insurance agent to secure the correct form and also to assist you in making the gift.

    3. Contact us. We will answer any questions you may have and will be delighted to know of your interest in our ministries.

      Christ Temple Church of the Aposolic Faith Inc.
      9020 B Woodyard Road
      Clinton, MD 20735-4212
      (301) 868-3567

      e-mail:Christteme@aol.com

      Information sent via the Internet may not be secure



Let's Sum It All Up:

  1. A gift of life insurance is simple to give.

  2. You may choose from a variety of options to fit your personal desires and your financial situation.

  3. Your wishes will be carried out, as specified in your policy.

  4. The proceeds will be paid promptly and will not be diminished by probate costs.

  5. The gift will not be delayed by settlement of your estate.

  6. In addition, you may receive valuable benefits in the form of income tax deductions.

If you are interested in making a gift using life insurance, read "How do I make a gift of Life Insurance?" from our commonly asked questions list.

Return to Questions List

Return to Life Insurance Index
 

copyrightcopyright 2000 Christ Temple. Compliance with copyright restrictions requires that no portion of this site (written, audio, or visual) may be reproduced in any form without written permission of the Christ Temple 9020 B Woodyard Road Clinton, MD 20735-4212

"Year's Theme: “And if it seem evil unto you to serve the LORD, choose you this day whom ye will serve; whether the gods which your fathers served that were on the other side of the flood, or the gods of the Amorites, in whose land ye dwell: but as for me and my house, we will serve the LORD.” - Joshua 24:15; "As for me and my house, we will serve the LORD in 2017.”

© Copyright 2017 Christ Temple Church. All Rights Reserved. christteme@aol.com



logo-2.jpg