Gifts of Life Insurance

A gift of your life insurance policy is an excellent way to make a gift to Fresno State.

If you have a life insurance policy that you no longer need — perhaps purchased to support dependents who are now financially secure — you may consider donating the policy to Fresno State. Your gift can support scholarships, research, student success or another areas meaningful to you.

Benefits of gifts of life insurance

• You receive a charitable income tax deduction.
• If Fresno State retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premium.
• If Fresno State 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 Fresno State so that we can use the proceeds to further our charitable work.

Gifts of life insurance video

There are two primary ways to make a gift of life insurance:

1. Name Fresno State as a Beneficiary
   You can name the Fresno State Foundation as a full, partial, or contingent beneficiary of your life insurance policy. Since you retain ownership, this type of gift is considered revocable and is treated similarly to a bequest for recognition and record-keeping purposes
2. Transfer Ownership to Fresno State
   If you transfer ownership and make the Fresno State Foundation the irrevocable owner and beneficiary of the policy, your gift will be counted as an irrevocable planned gift. You may also qualify for an immediate charitable income tax deduction based on the policy's cash surrender value

Other considerations

Your deduction for the gift of life insurance 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.

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.