Gifts from Life Insurance
How to make a gift to the College Guild Endowment through a life insurance policy
To make the most of your life insurance contract, consider if you still really need it for your family. If not, you can make the College Guild Endowment the beneficiary of your life insurance policy by completing a “Change of Beneficiary” form either online or by requesting the form from your insurance company. List the College Guild Endowment, c/o College Guild (Tax ID# 01-0545944) as the beneficiary on the form of all or a portion of the policy’s value.
A portion of your premium may be immediately tax deductible, depending on your situation, even though the Endowment won’t receive the gift until you pass on.
The varieties and variations of life insurance products are endless and it's essential that you consult a trusted financial or legal advisor to understand exactly what you are buying when you purchase life insurance. Know whom you have designated as your beneficiary and review beneficiary designations regularly.