Life Insurance

A Flexible and Meaningful Way to Give

Donating a life insurance policy is a powerful way to support the causes you care about and to know that your gift will impact others forever. 

Life Insurance Gifts

Donating a life insurance policy is a powerful way to support the causes you care about and to know that your gift will impact others forever.  By naming the Foundation or one of our affiliated funds as both the beneficiary and irrevocable owner of your policy, you can align your giving with your faith, support Catholic ministries, and enjoy potential tax benefits.


Together, we can build a legacy of faith and compassion that endures for generations.
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Benefits of Donating Life Insurance

Life insurance gifts enable you to support Catholic ministries, schools, and parishes without depleting current financial resources. This type of gift ensures that your faith-driven values endure and that your generosity continues to provide vital resources for generations to come. They offer:


  • Significant Impact — Create a large charitable gift through an asset you already own
  • Tax Advantages — Receive a charitable deduction for the cash surrender value or premiums paid
  • Flexibility — Tailor your gift to align with your financial and philanthropic goals
  • Legacy Building — Support Catholic ministries, schools, and parishes in perpetuity

What is a Life Insurance Gift?

A life insurance gift involves transferring ownership of your policy to the Foundation or naming the Foundation as the beneficiary.


When the Foundation becomes the irrevocable owner, the policy’s cash value or interpolated terminal reserve value is recorded as a gift. This type of contribution allows you to make a significant charitable impact without impacting your immediate finances.

How it Works

  • Name the Foundation

    Name the Catholic Legacy Foundation of Acadiana (Tax I.D. # 99-4679427) as both the irrevocable owner and beneficiary of your life insurance policy. Then complete with the Foundation, a set of instructions known as your Family Charitable Legacy Plan where you can spell out your intentions for the use of your gift.

  • Valuation of the Gift

    The gift is valued at the policy’s cash surrender value or interpolated terminal reserve value upon receipt.

  • Premium Payments

    If you continue to pay premiums, each payment is treated as an additional charitable gift.

  • Policy Options

    If premiums are not continued, the Foundation may convert the policy to paid-up insurance or surrender it for its cash value.

Key Considerations

  • Irrevocability — The Foundation cannot record the gift until the designation is irrevocable.
  • Present Value — For policies due in the future, the present value may be recorded when the gift becomes irrevocable.

Start Your Legacy Today

Ready to give a gift of life insurance?

To explore how a life insurance gift can align with Catholic values, contact us today.


Phone (337) 261-5642 | Email mtrahan@CLFAinc.org | Contact Us