Giving a life insurance policy you no longer need, or funding a new policy to support the University of Virginia, is an excellent way to make a substantial gift.
Three Ways to Give Life Insurance
- Designate the University of Virginia as a beneficiary of your life insurance policy; or
- Give the University a fully paid life insurance policy that you no longer need; or
- Purchase a new policy and name the University of Virginia as the owner and beneficiary. You will then be asked to contribute the equivalent of the annual premium payment to the University. This premium contribution is tax deductible and is used by the University to pay the insurance premium.