Life Insurance

Life insurance is a fairly simple way to support BC now or in the future.

Retirement

How It Works

Now: Name BC as the owner and beneficiary of a fully paid up life insurance policy. Once the transfer of ownership to BC is complete, BC surrenders the policy for its cash value and you get a charitable income tax deduction equal to the policy’s cash surrender value or cost basis — whichever is less. You’ll be able to see the impact of your gift during your lifetime.

Later: Name BC as a full, partial, or contingent beneficiary of a life insurance policy. This option offers flexibility: you can change the percentage should your circumstances change. The process is simple and can be handled through your plan’s administrator.


Next Steps

  • Contact the administrator of your policy and request a beneficiary designation form. If you have a specific restriction you would like to place on your gift, please contact the Office of Gift Planning so we can help you settle upon the best wording.
  • Already named BC as the beneficiary of your life insurance policy? Complete our online estate commitment form to let us know and you will be recognized by the Shaw Society.
  • If you are planning on transferring ownership, contact the Office of Gift Planning to discuss next steps and see if your policy is eligible for a gift to BC.

BC’s legal name, address and tax ID:

The Trustees of °¬¿ÉÖ±²¥ College
140 Commonwealth Avenue
Chestnut Hill, MA 02467
Tax ID 04-2103545

AT A GLANCE


WHO

  • Anyone with a life insurance policy

WHAT

  • Life insurance

WHEN

  • Now
  • After death

WHY

  • Reduce estate taxes
  • Receive a charitable deduction
  • Support BC at a level you didn’t think was possible without depleting current income or assets
  • Leverage an underutilized or unneeded asset to support BC
  • Become a member of the Shaw Society

Contact Us

877-304-SHAW

Ìýgiftplanning@bc.edu

ÌýContact Form

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How Can We Help?Ìý


We're here to partner with you if you have any questions. Feel free to reach out to us directly or fill out the form.

°¬¿ÉÖ±²¥ College Gift Planning Team