Gifts of Insurance
A gift of your life insurance policy is an excellent way to make a gift to University of Arkansas, Fayetteville. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to University of Arkansas, Fayetteville. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
Benefits of gifts of life insurance
- Receive a charitable income tax deduction
- If University of Arkansas, Fayetteville retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
- If University of Arkansas, Fayetteville cashes in the policy, you will be able to see firsthand how your gift supports our charitable work
- If we retain the policy to maturity, or you name us as a beneficiary, once the policy matures, the proceeds of your policy will be paid to our organization so that we can use the proceeds to further our charitable work
How to make a gift of life insurance
To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include University of Arkansas, Fayetteville as the beneficiary of your policy.
If you have any questions about gifts of insurance, please contact us. We would be happy to assist you and answer any questions that you have.
If you have included the University of Arkansas in your estate plan, please click here or contact us to let us know. We would like to thank you and recognize you for your gift.
You can also designate University of Arkansas, Fayetteville as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. Your estate may benefit from an estate tax charitable deduction.
Your deduction for the gift of life insurance will depend on the whether the policy has increased in value above the premiums and whether the policy is paid up or there are remaining payments to be made.