Commercial Annuities
Like retirement plan assets, commercial annuities provide for tax-deferred growth while the owner is living. Because distributions from commercial annuities are subject to income taxes, they are often considered among the best assets to leave to charity. Due to our tax-exempt status, Dana-Farber and the Jimmy Fund can receive your commercial annuity completely tax-free when you name us as beneficiary.
Making this gift is as simple as updating your beneficiary form with your bank or insurance company. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn’t survive you.
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Sample language to share with your attorney:
"I bequeath (a specific dollar amount/_______percentage or the entire residue of my estate) to Dana-Farber Cancer Institute, Inc., 450 Brookline Avenue, Boston, Massachusetts 02215 (for cancer research and patient care, or for a specific purpose important to you). Dana-Farber’s Federal Tax ID: 04-2263040."