Gifts of Life Insurance

Gifts of Life Insurance

A life insurance policy can be a meaningful and flexible way to support Roger Bacon High School.

If you have a policy that is no longer needed for its original purpose—such as providing for children who are now independent—it may be an ideal asset to turn into a charitable gift.

Key Benefits

Gifts of life insurance can provide both immediate and long-term advantages:

• Potential eligibility for a charitable income tax deduction
• Opportunity for additional deductions if you continue paying premiums on a gifted policy
• Ability to make a significant future gift through policy proceeds
• Support Roger Bacon High School’s mission beyond your lifetime

How It Works

There are a few ways to structure a life insurance gift:

1. Name Roger Bacon as Beneficiary
   You can designate Roger Bacon High School as a full, partial, or contingent beneficiary of your policy.
2. Transfer Ownership of the Policy
   In some cases, you may choose to transfer ownership of the policy to Roger Bacon.
3. Continue Premium Contributions (Optional)
   If the policy is not fully paid, you may continue making contributions to cover premiums.
4. Create a Future Gift
   Upon your passing, the policy proceeds are directed to Roger Bacon High School to support its mission.

A Flexible Giving Option

Life insurance allows you to make a larger future gift than might be possible through other means—often without affecting your current financial situation.

You also retain flexibility, as beneficiary designations can typically be updated if your circumstances change.

Important Considerations

• The value and tax benefits of your gift may vary depending on the type of policy and whether premiums are still being paid
• Your estate may receive a charitable deduction based on the value of the gift
• It’s a good idea to consult with your financial advisor or insurance provider when planning your gift

Let Us Know

If you have already included Roger Bacon High School in your life insurance plans, we would love the opportunity to thank you and recognize your generosity.