Planned Giving
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Gifts of Insurance

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

Gift of Insurance
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Benefits of gifts of life insurance

  • Receive a charitable income tax deduction
  • If The University of Akron Foundation retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
  • If The University of Akron Foundation 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

Under certain circumstances, The University of Akron Foundation may agree to serve as both owner and beneficiary of the policy. This is determined on a case-by-case basis and must be approved by the Executive Director of the UA Foundation.

To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include The University of Akron 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.

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