When contributing to a basic gift annuity, you receive a steady income for the remainder of your lifetime. But when contributing to a two-life beneficiary annuity, you receive a lifetime of income while also providing a second beneficiary—named by you—with a lifetime of income after you pass away.

This annuity structure provides several key benefits. For starters, when you complete an annuity agreement, you receive a one-time charitable tax deduction. You also receive your annuity payments with a portion of the amount tax-free for a fixed number of years, pre-established at the time of the gift. Finally, you provide income to a second beneficiary for the remainder of his or her lifetime, leaving a lasting legacy after you pass away.

So, how does a two-person charitable gift annuity work with American Bible Society?

If you decide to invest in a two-life successor beneficiary annuity with American Bible Society, your single contribution serves as a “three-in-one” gift: you receive a steady income, your second beneficiary receives a steady income and people across the globe have the opportunity to engage with the life-changing message of God’s Word. Your gift to American Bible Society helps share the Bible where needed most, transforming hearts in Asia, Africa, North America and beyond.

When you sign your annuity agreement, you select a method for receiving steady payments. You may choose to receive your payments in “direct deposits,” where funds are automatically deposited into your bank account, or in scheduled checks delivered to your mailbox. When you pass away, the second beneficiary—often a son, daughter, sister or brother—simply needs to confirm his or her identity and location with American Bible Society. We then start sending your second beneficiary steady payments for the remainder of his or her lifetime, delivered as a gift from you. Once both beneficiaries have passed away, the remainder transfers to American Bible Society. You can pre-designate where your gift is used, or simply apply the funds where needed most.

If you’re interested in making your gift a surprise, we also have the ability to reach out to your second beneficiary after you pass away. A phone call to your loved one will provide information about your gift—and about the lasting difference your contribution will make for future generations.

Instead of investing in a basic gift annuity, extend your impact beyond your lifetime with a two-person charitable gift annuity.

Interested in learning more about gift annuities? Sign up to receive a detailed Gift Annuities guide via email, which will walk you through each step of the process.