Gifts of Life Insurance

Giving a gift of life insurance allows you to transfer ownership of a paid-up life insurance policy to Moravian. Moravian elects to cash in the policy now or hold it.

How You Benefit from a Gift of Life Insurance

Give a gift using an asset that you and your family may no longer need.

Receive an income tax deduction equal to the cash surrender value of the policy.

You may be able to use the cash value of your policy to fund a gift that delivers income, such as a Charitable Gift Annuity.

Make Moravian a Beneficiary of Your Life Insurance

You can name Moravian as a beneficiary by completing a Change of Beneficiary form with your provider. If you no longer need the coverage from the policy, consider making Moravian the owner and beneficiary for an immediate tax deduction.

Option 1: Make Moravian the beneficiary of the policy

This option allows you to:

  • Create a meaningful legacy at Moravian
  • Reduce the size of your taxable estate
  • Retain the flexibility to change your mind

Option 2: Make Moravian the owner and beneficiary of an existing policy

This option allows you to:

  • Give an irrevocable gift to Moravian today with little or no impact on your current cash flow
  • Receive a charitable tax deduction for a portion of your gift

In addition, if premiums remain to be paid on the policy, a charitable deduction is allowed for each gift you make to Moravian to cover the premiums.

Planning Tips

  • To make Moravian a beneficiary of, or owner and beneficiary of, your life insurance policy, simply contact your insurer and complete the required form. You may need to provide the following information:
    • Legal name: Moravian University/Moravian Theological Seminary/Lancaster Theological Seminary
    • Tax ID number: 24-0795460
    • Address: 1200 Main St, Bethlehem, PA 18018
  • It's also possible to use a charitable donation to buy a new policy to benefit Moravian. Contact us early in your planning if you'd like to pursue this option so we can work with you on this process.
  • If you are considering designating your gift for a specific purpose, such as a scholarship fund or support for a specific department, contact us to ensure that we understand your wishes.
  • Before finalizing a gift of life insurance, review your other assets (such as appreciated stock or IRA accounts) to make sure this is the savviest way for you to reach your goals.