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Life Insurance

Life insurance is a fairly simple way to support ¾«¶«Ó°Òµ now or in the future.

How It Works

Now: Name ¾«¶«Ó°Òµ as the owner and beneficiary of a fully paid up life insurance policy. Once the transfer of ownership to ¾«¶«Ó°Òµ is complete, ¾«¶«Ó°Òµ 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 ¾«¶«Ó°Òµ 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 ¾«¶«Ó°Òµ 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 ¾«¶«Ó°Òµ.

¾«¶«Ó°Òµâ€™s legal name, address and tax ID:

The ¾«¶«Ó°Òµ
140 Commonwealth Avenue
Chestnut Hill, MA 02467
Tax ID 04-2103545