FPGROC Estate & Planned Giving

Life Insurance

Donate a policy, take a deduction, deduct any future premiums and make an extraordinary gift. You also remove proceeds from your taxable estate. Large cash values resulting from relatively small premiums make life insurance an attractive planned gift with several options:

Donate a fully paid policy: Some policies are old and no longer serve as an important security. When you name Family Promise of Greater Rochester as the irrevocable owner and beneficiary you may claim an income tax deduction and remove the asset from your potential gross taxable estate.

Donate a partially paid policy:  When you name FPGROC as the irrevocable owner and beneficiary on a policy where premiums are still owed, any additional premiums you make will generate deductions.

Donate a new policy:  You are entitled to deduct all premiums you pay when you designate FPGROC as the irrevocable owner and beneficiary of your policy.