Life Insurance
Life insurance is a fairly simple way to support BC now or in the future.
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鈥檚 cash surrender value or cost basis 鈥� whichever is less. You鈥檒l 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鈥檚 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鈥檚 legal name, address and tax ID:
The Trustees of 艾可直播 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鈥檛 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
听
How Can We Help?听
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.
