3 Ways to Give Life Insurance
Powerful and Simple Way to Support Cyclones
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 our students and prgorams. There are three ways to give life insurance to Iowa State University:
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 us as the primary beneficiary for a percentage or specific amount. You can also make us 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 us 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 Iowa State 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.
How You Can Benefit From Giving Life Insurance
Learn more about this simple gift by downloading your FREE copy of our informative guide Change Lives With Life Insurance.View My Guide
See How It Works
- Contact the office of gift planning at 800.621.8515 or firstname.lastname@example.org for additional information on life insurance.
- Seek the advice of your financial or legal advisor.
- If you include Iowa State in your plans, please use our legal name and federal tax ID.
Legal Name: The Iowa State University Foundation
Address: 2505 University Boulevard, P.O. Box 2230, Ames, IA 50010-2230
Federal Tax ID Number: 42-1143702
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
For more information, please contact any member of our gift planning staff: Rob Kinsey, Kelly Allen, Rhonda Fitchett, Alyssa Ehrich, Gregg Hinders or Sandy Clarke.