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Planned Giving

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Estate Planning Guide E-newsletter
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Gifts of Insurance

A gift of your life insurance policy is an excellent way to make a gift to St. Mary's College of Maryland. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to St. Mary's College of Maryland. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.

Gift of Insurance
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SMCM
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Benefits of gifts of life insurance

  • Receive a charitable income tax deduction
  • If St. Mary's College of Maryland retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
  • If St. Mary's College of Maryland cashes in the policy, you will be able to see firsthand how your gift supports our charitable work
  • If we retain the policy to maturity, or you name us as a beneficiary, once the policy matures, the proceeds of your policy will be paid to our organization so that we can use the proceeds to further our charitable work

How to make a gift of life insurance

To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include St. Mary's College of Maryland as the beneficiary of your policy.

Contact us

If you have any questions about making a gift of a life insurance policy, please contact us. We would be happy to answer questions that you have.

Please let us know if you have already named us as a beneficiary of your life insurance policy. We would like to thank you and recognize you for your gift.

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CONTACT US
Office of Institutional Advancement
47545 College Drive, St. Mary's City, MD 20686
(240) 896-4282
LEGAL NAME
St. Mary's College of Maryland Foundation, Inc.
Federal Tax ID Number
23-7152890