Make a Gift of Life Insurance Today – Donate an “unneeded” policy
You may have an insurance policy that has outlived its originally intended purpose and you no longer believe it is necessary. For instance, a policy may have originally been purchased to protect a child who is now a financially independent adult.
Did you know that you can give your life insurance policy to BCC today and receive a charitable income tax deduction? You can also make deductible contributions to BCC each year which we may use to pay the premiums. Our organization receives the proceeds of your policy after your lifetime.
- Preserve cash.
- Policy premiums are tax deductible during your lifetime.
- After your lifetime a significant gift is made to BCC, which may also help reduce your estate’s taxes.
Designate BCC as Beneficiary of Your Life Insurance Policy
If you do not wish to transfer ownership of the life insurance policy to BCC, consider naming BCC as a partial, full, or contingent beneficiary of your life insurance policy. You can make changes to your beneficiary list at any time. The policy will be included in your taxable estate when you pass away, but your estate could benefit from an estate tax charitable deduction for the value of the gift to BCC.
- Have the flexibility to modify your bequest at anytime if your circumstances change.
- Make a significant gift to BCC and designate how it should be used.
- Experience the satisfaction of knowing you can continue helping communities and families thrive even after your lifetime.
- Click here for sample language when naming BCC as a beneficiary.
Contact Us for More Information
If you have any questions please contact the Development team at (410) 922-2100 x5430 or email us at email@example.com.