Life Insurance Donations

Donating life insurance is another creative way to make a meaningful charitable gift. Here are some options to consider:

• Give a paid-up policy. Hasbro Children's Hospital may be named as the beneficiary through a transfer of policy ownership. Your charitable deduction would be about equal to the policy cash surrender value.
• Give a policy you are still paying premiums on. Hasbro Children's Hospital may be named as the beneficiary through a transfer of policy ownership. Your charitable deduction is the approximate cash value and future premium payments on the policy.
• Assign the dividends to Hasbro Children's Hospital. The value of your dividends becomes an annual donation.
• Purchase a new policy in the name of Hasbro Children's Hospital.
• Designate a beneficiary. Name Hasbro Children's Hospital as a beneficiary to receive all or a percentage of the policy. A charity may be named as a contingent beneficiary.

The 1% Planned Gift

The Easiest Planned Gift

Simply designate 1% (or any percentage) of an insurance policy you control to the hospital foundation of your choice. You can keep your family and loved ones as 99% beneficiaries while making a charitable planned gift.

Ways to make a 1% planned gift:

• Obtain an insurance change of beneficiary form your agent or your company's human resources department. It can be changed at any time.
• Contact your attorney about making a "1% planned gift" by adding a codicil attachment to your will. More about donating through your will and suggested wording for your attorney.

Find out more: Contact Michele Brannigan, Senior Gift Officer, at 401-444-4639 or mbrannigan@lifespan.org, or Eric Archer, Planned Giving Specialist,  at 401-423-0083 or PGInfo@lifespan.org.