Gifts of life insurance are a valuable part of the planned giving program at Buffalo Hospital Foundation. The Foundation encourages donors to consider one of two ways that outright gifts of life insurance may be used to make a "planned gift:"
Patients, friends and supporters of Mercy and Unity Hospitals are encouraged to name the Foundation as beneficiary or contingent beneficiary of their life insurance policies. Such designations shall not be recorded as gifts to us until such time as the gift is irrevocable.
While the life insurance policy will identify the Foundation as the beneficiary, we will work with the donor to clarify the purpose of the gift - whether it is for endowment (existing or new), specific program or department, or unrestricted use - by attachment of a memorandum, letter, or endowment agreement to the policy.