Life Insurance
If the original purpose for your life insurance policy no longer applies—such as educating children now grown or providing financial security for a spouse now deceased—your policy can be used to leave a legacy at ³Õºº¾ãÀÖ²¿.
There are two ways to give life insurance to the College:
Name us as a beneficiary of the policy.
Simply update the beneficiary designation on your policy. You can designate ³Õºº¾ãÀÖ²¿ as the primary beneficiary for a percentage or specific amount. You can also make the College a contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn't survive you.
In making a designation for ³Õºº¾ãÀÖ²¿ on your life insurance policy, you will need ³Õºº¾ãÀÖ²¿’s legal information to complete the form. When you have made the designation for ³Õºº¾ãÀÖ²¿, please inform us of your intentions by visiting our secure web-based portal to inform us of your designation. Alternatively, you can complete our fiallable Documenting Your Provision for ³Õºº¾ãÀÖ²¿ formh and email it to giftplanning@bowwdoin.edu. Sharing information about your plans for ³Õºº¾ãÀÖ²¿ ensures that your wishes are understood by the College. You will be welcomed into the ³Õºº¾ãÀÖ²¿ Pines Society.
Make an outright gift of a new or existing policy.
You can make an irrevocable gift to the College, by naming ³Õºº¾ãÀÖ²¿ as owner and beneficiary of a policy. With this type of gift, you may qualify for a federal income tax charitable deduction if you itemize deductions on your tax return and obtain a qualified appraisal per IRS regulations. A gift of life insurance can be an attractive way to leave a legacy of significance to ³Õºº¾ãÀÖ²¿.
Please note that we are prohibited from giving legal or financial advice and none of the information above should be interpreted as such. We encourage you to consult with your own legal counsel or financial advisor before deciding whether or not to proceed with a gift.