How to Give

Not only do you have options for how your gift will be used, you also have options on what to give and how to give. There are gifts that cost you nothing now, gifts that pay you income, and gifts that allow you to decide what happens when.

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Use Life Insurance to Make a Gift to Regina Dominican

A life insurance policy can be a versatile and effective asset for making a significant charitable gift to Regina Dominican. There are two basic ways insurance can be used to help support RDHS, and each offers different benefits to you.

Option 1: Make Regina Dominican the beneficiary of the policy

This option allows you to:

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

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

This option allows you to:

  • Make an irrevocable gift to Regina Dominican 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 RDHS to cover the premiums.

Planning Tips

  • To make Regina Dominican 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: Regina Dominican
    • Tax ID number: 36-2378515
    • Address: 701 Locust Road, Wilmette, Illinois 60091
  • It's also possible to use a charitable donation to buy a new policy to benefit RDHS. 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.