Skip to main content Accessibility help
The blue logo for John Hancock
  • Help center
  • Help center
  • For financial professionals

    • Life insurance
    • Investments
    • Retirement
  • For financial professionals

    • Life insurance
    • Investments
    • Retirement
    • For plan sponsors
  • For plan sponsors
  • Sign in
    • Home

    • Insure

      Insure

      Protect what matters most.

      Explore insure
      • Term life insurance
      • Permanent life insurance
      • Vitality
      • Aspire with Vitality
      Life insurance to help you live a longer, healthier life.
      Talk to an insurance professional
    • Invest

      Invest

      Make your money work harder for you.

      Explore invest
      Personalized advice to help you meet your financial goals.
      Contact an advisor
    • Retire

      Retire

      Something you can look forward to.

      Explore retire
      Enjoy what comes next
      Make a plan
    • Advice

      Advice

      Financial advisory services with a personal touch.

      Explore advice
      Our financial experts can help you prepare for the future.
      Start here
    • Insights

    • About us

      About us

      Connecting customers and communities.

      Explore about us
      • Community Investment
      • Diversity, Equity and Inclusion
      • Leadership
      • Newsroom
      • Our Culture
      • Sponsorship
      Make your impact
      View current career opportunities
    • Help center

      Help center

      Resources, FAQs, contact information and more.

      Get started
      • Retirement
      • Life insurance
      • Long-Term Care
      • Investments
      • Individual annuities
      • Group annuities
      • Other resources
      Have questions about a product or service?
      See how to contact us
    • Home
    • Insure
      • Explore insure
      • Term life insurance
      • Permanent life insurance
      • Vitality
      • Aspire with Vitality
    • Invest
      • Explore invest
    • Retire
      • Explore retire
    • Advice
      • Explore advice
    • Insights
    • About us
      • Explore about us
      • Community Investment
      • Diversity, Equity and Inclusion
      • Leadership
      • Newsroom
      • Our Culture
      • Sponsorship
    • Help center
      • Get started
      • Retirement
      • Life insurance
      • Long-Term Care
      • Investments
      • Individual annuities
      • Group annuities
      • Other resources
      • Help center
    • Help center
    • For financial professionals

      • Life insurance
      • Investments
      • Retirement
    • For financial professionals

      • Life insurance
      • Investments
      • Retirement
      • For plan sponsors
    • For plan sponsors

    Your browser is not supported.

    To use our website, we recommend using the latest version of Microsoft Edge, Chrome, or Safari.

    Gifting with life insurance

    Insure
    Woman holding a present wrapped in brown paper with a black tag with a white heart on it


    Life insurance as a gift? Absolutely! Life insurance is fast becoming the go-to solution for those who want to give—or receive—a gift with real staying power. As consumers switch from buying things to buying experiences, and as a desire for financial security becomes a goal, more and more people are opting for gifts that can create a sound foundation and stability. The following are some ways that life insurance is being given:

     

    As a wedding gift

    A newlywed couple may be knee deep in linens, glassware and appliances, but do they have financial security in place should something happen to one of them? A gift of life insurance for the couple instills a sense of responsibility, with the security of knowing that they are protected financially. In addition, life insurance is very affordable for young people.

    As a way to say “thank you”

    Are there people in your life who are special or to whom you owe a debt of gratitude? If you’re wondering how you might thank them, considering taking out a life insurance policy and listing family, friends and other special people as beneficiaries. You can list as many people as you like, and designate what amount of the payout you’d like each to receive.

    As a boost to your favorite non-profit

    Perhaps you’ve been involved with a non-profit or charity that you would like to be able to help. What could be better than naming the organization as a beneficiary of your life insurance? The payout will not only be memorable, but is tax-free as well.

    As something for the kids or grandkids

    Life insurance is a great way to pass money down to the younger generation. When you make your heirs the beneficiaries of a life insurance policy, the benefit is usually tax free and paid out immediately. This is a great way to help pay for education or help get them off to a good start.

     

    While life insurance is a great gift, there is some planning involved. You will need to follow up on a regular basis to make sure you still want to include the beneficiaries listed. Make sure that the insurance company knows how to contact the beneficiaries. When you list minors as beneficiaries, there are some legal steps to consider. Most important, be sure to tell someone that you have a policy so if something happens to you the policy will be paid out.

     

     

    Life insurance that rewards you for living a healthy life.
    Contact us

    More on this topic

    • Switching life insurance providers: is it worth it?
    • What happens when life insurance payouts begin
    • Should you buy life insurance for family members?
    • 5 lesser known benefits of life insurance
    • Make winter your best season yet: Tips for taking care of your body and mind

    Unless otherwise indicated, this article was written by John Hancock, and is intended to promote awareness and is for educational purposes, only.

    Life insurance death benefit proceeds are generally excludable from the beneficiary’s gross income for income tax purposes. There are few exceptions such as when a life insurance policy has been transferred for valuable consideration. Comments on taxation are based on John Hancock’s understanding of current tax law, which is subject to change. No legal, tax or accounting advice can be given by John Hancock, its agents, employees or registered representatives. Prospective purchasers should consult their professional tax advisor for details.

    MLINY121117027

    Individual
    • Annuities
    • College savings
    • Group annuities
    • Life insurance
    • Investments
    • Retirement
    • Rollover
    • Safe-access accounts
    • Travel insurance
    Financial Professional
    • Annuities
    • College savings
    • Life insurance
    • Investments
    • Retirement
    Plan Sponsor
    • Retirement / TPA
    • Retirement / plan sponsors
    • International group program
    About Us
    • Community Investment
    • Diversity, Equity and Inclusion
    • Leadership
    • News
    • Our Culture
    • Sponsorship
    • Supplier diversity
    Quick Links
    • Careers
    • Help center
    • Lost or unclaimed policy form
    • Contact John Hancock
    • Manulife Global
    • Manulife Investments
    • Manulife Real Estate
    • Manulife Re
    • © 2023 John Hancock
    • Stock Price
    • Privacy & Security
    • Fraud Prevention Center
    • Legal
    • Accessibility