Life Insurance
When the original purpose of your life insurance policy no longer applies—such as funding your children’s education or ensuring financial security for a spouse—you can transform your policy into a powerful way to support Big Life’s mission.
There are three simple ways you can make a lasting impact through your life insurance:
1. Name Big Life as a Beneficiary
One of the easiest ways to give is by updating your beneficiary designation form with your policy holder.
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You can designate Big Life as the primary beneficiary for either a specific amount or a percentage of the policy.
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Alternatively, you can name us as the contingent beneficiary, so we receive the proceeds only if your primary beneficiary does not survive you.
2. Make an Outright Gift of an Existing Policy
You may also choose to name Big Life as both the owner and beneficiary of an existing policy.
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This approach may qualify you for a federal income tax charitable deduction when you itemize your taxes.
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If you continue to make premium payments, each payment may also be tax deductible as a charitable gift.
3. Make an Outright Gift of a New Policy
Another meaningful option is to purchase a new life insurance policy and irrevocably name Big Life as both the owner and beneficiary.
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This method is often appealing for younger donors.
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Whether you pay a single premium or make annual premium payments, each contribution may be tax deductible as a charitable gift when you itemize your taxes.
By gifting your life insurance policy, you can create a lasting legacy and help Big Life continue its vital work for generations to come