Powerful and Simple Way to Support Future Wildcats
When the original purpose for a life insurance policy no longer applies—such as educating children now grown or providing financial security for a spouse—your policy can become a powerful and simple way to support future UK students. There are three ways to give life insurance to the University of Kentucky:
Name us a beneficiary of the policy. This gift is as simple as updating your beneficiary designation form with the policy holder. You can designate UK as the primary beneficiary for a percentage or specific amount. You can also make UK the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn't survive you.
Make an outright gift of an existing policy. You can name UK as owner and beneficiary of an existing policy. You qualify for a federal income tax charitable deduction when you itemize on your taxes. If you continue to pay premiums on the policy, each payment is tax deductible as a charitable gift when you itemize.
Make an outright gift of a new policy. You can take out a new policy and irrevocably name UK as the owner and the beneficiary of the insurance contract. This method may be particularly attractive for the younger donor. Whether you make one single premium payment for the policy or pay annual premiums, each payment is tax deductible as a charitable gift when you itemize on your taxes.
Gifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE Guide Plan for Retirement with a Deferred Gift Annuity.
- Contact Gift and Estate Planning at (859) 257-7886 or firstname.lastname@example.org for additional information on life insurance.
- Seek the advice of your financial or legal advisor.
- If you include UK in your plans, please use our legal name and federal tax ID.
Legal Name: University of Kentucky
Address: Sturgill Philanthropy Building, Lexington, KY 40506-0015
Federal Tax ID Number: Please contact us for our federal tax ID number.