Gifts of Insurance

Gifts of Insurance

Benefits of Gifts of a Life Insurance Policy to Notre Dame

• Receive a charitable income tax deduction.
• If the University of Notre Dame 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 Notre Dame cashes in the policy, you will be able to see firsthand how your gift furthers the University's mission.
• 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 Notre Dame so that we can use them to further our mission.

How to Make a Gift of a Life Insurance Policy to Notre Dame

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 Notre Dame as the beneficiary of your policy.

Your deduction for the gift of a life insurance policy to Notre Dame will depend on 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.

You can also designate the University of Notre Dame as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and you can make use of the policy during your lifetime. Note that designating the University as a beneficiary of a life insurance policy you continue to own will not generate a current income tax deduction. Your estate may benefit from an estate tax charitable deduction.

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.