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Your legacy starts
with a plan

Making a planned gift is a wonderful way to show your support and appreciation of Rutgers University and its mission while accommodating your own personal, financial and philanthropic goals.

Gift Planning

You are at: Planned Giving > Gift Options > What to Give > Insurance

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Gifts of Insurance

A gift of your life insurance policy is an excellent way to make a gift to Rutgers University Foundation. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Rutgers University Foundation. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.

Gift of Insurance
Insurance
RUF
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Flowchart: Donor makes a gift of an insurance policy to RUF. RUF either keeps the policy until maturity or cashes in the policy for its cash value.

Benefits of gifts of life insurance

  • Receive a charitable income tax deduction
  • Receive additional income tax deductions each year that you make additional contributions so that Rutgers University Foundation can pay the annual insurance premiums
  • At death, the proceeds of your policy will be paid to our organization and we will use the insurance proceeds to continue 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 Rutgers University Foundation as the beneficiary of your policy.

Contact us

If you have any questions about making a gift of a life insurance policy, please contact us. We would be happy to answer questions that you have.

Please let us know if you have already named us as a beneficiary of your life insurance policy. We would like to thank you and recognize you for your gift.

Additional Information

You can also designate Rutgers University Foundation 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.

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This site is informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor. Rutgers is an equal access/equal opportunity institution. Individuals with disabilities are encouraged to direct suggestions, comments, or complaints concerning any accessibility issues with Rutgers web sites to [email protected] or complete the Report Accessibility Barrier or Provide Feedback Form.