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Gifts of Life Insurance

Life insurance offers you the opportunity to make a significant gift to BIDMC with tax benefits. If you have more insurance coverage than you need, you may consider giving BIDMC a paid-up policy. By transferring the ownership of your policy to BIDMC, you receive a charitable income tax deduction equal to the policy's cash surrender value or cost basis, whichever is less.

Summary of benefits:

  • Receive a federal income tax deduction in the year that you make the gift.
  • Make a more significant gift to BIDMC.
  • Receive membership in the Lunn Society, BIDMC's recognition society for individuals who have made a planned gift.

Note: The information on this Web site is not intended to serve as legal or financial advice. When planning a specific charitable gift, the services of a legal or financial advisor should be obtained.



 

Contact Information

Office of Development
Beth Israel Deaconess Medical Center
330 Brookline Avenue
Boston, MA 02215
pgo@bidmc.harvard.edu