DonateLife Insurance
Giving Through Life Insurance
If you're looking for a simple way to create a lasting legacy for sovereign art, donating a life insurance policy or naming Bitcoin For The Arts as a beneficiary is an excellent option. This guide explains how it works, the benefits, and easy steps to get started.
Where applicable, proceeds can be converted to Bitcoin (per policy) to support artists long-term through our reserve.
Simple legacy
Name us as beneficiary or donate an existing policy.
Flexible
Works for many policy types; structure determines treatment.
Long-term impact
Proceeds can fund grants and programs for years to come.
Bitcoin tie-in
Where applicable, proceeds can be converted to BTC per policy.
What Is A Life Insurance Gift?
- Policy donation: You transfer ownership of an existing life insurance policy to us (typically irrevocable). We become the beneficiary and owner.
- Beneficiary designation: You keep ownership but name us as a beneficiary (full or partial). We receive proceeds upon your passing.
- Why it fits: Life insurance gifts align with low time preference—supporting future artists without impacting your current finances.
Benefits For Donors
- Tax savings: Depending on the structure, you may be eligible for deductions or estate planning benefits. (Consult your advisor.)
- Easy legacy: No need for a large cash gift today— you can use a policy you no longer need.
- Flexibility: Works with many policy types. Premium treatment varies by structure and jurisdiction.
- Impact: Your gift can fund grants and programs for artists for years to come.
How To Donate A Policy Or Add Us As Beneficiary
- Contact us: Email donate@bitcoinforthearts.org. We'll provide the organization details you need (EIN/tax ID, legal name, mailing address).
- Review your policy: Ask your insurer about cash value and the transfer/beneficiary process (often a simple form).
- Transfer ownership (policy donation): Sign your insurer's form naming us as owner/beneficiary. Share the policy documents with us and we'll coordinate next steps.
- Designate beneficiary: Update your policy naming “Bitcoin For The Arts, Inc.” as beneficiary (percentage or fixed amount). No ownership change needed.
- Confirmation: We'll send a thank-you letter and any documentation we can provide based on your gift type.
Tips For Success
- Best policies: Whole/universal policies may support certain deduction structures; term policies are often simplest for beneficiary gifts.
- Tax advice: Consult your legal/tax advisor—rules vary by policy type and jurisdiction.
- Bitcoin tie-in: If desired, discuss with your advisor how you'd like proceeds allocated in line with our long-term reserve policy.