If you have a life insurance policy that insures against a risk you no longer have, consider naming KU Endowment as the owner and beneficiary. By doing this, you will receive a charitable deduction and remove the life insurance policy from your estate.
Your life insurance company can supply the forms necessary to complete this type of gift.
The Office of Planned Giving staff
is ready to consult with you and/or your adviser about gifts of life insurance to KU Endowment, and to help with any questions about other forms of charitable giving that may benefit you, your family and the University of Kansas.
The information on this site is not intended as legal, tax or investment advice. For such advice, please consult an attorney, tax professional or investment professional.
Utilization of matured life insurance policies will be deferred for a period of twelve months during which time the Association will earn interest income on the asset as a means of recovering expenses incurred in the marketing and administration of these gifts. At the end of the twelve-month period, the total value of the gift at maturity will be utilized in accordance with the donor's wishes.