Office of Estate & Gift Planning
Gifts of Life Insurance
When the original purpose for a life insurance policy no longer applies—such as educating children now grown or providing financial security for a spouse—your policy can become a powerful and simple way to support our work. There are three ways to give life insurance to the University of Florida:
Name us a beneficiary of the policy. This gift is as simple as updating your beneficiary designation form with the policy holder. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn't survive you.
Make an outright gift of an existing policy. You can name us as owner and beneficiary of an existing policy. You qualify for a federal income tax charitable deduction when you itemize on your taxes. If you continue to pay premiums on the policy, each payment is tax deductible as a charitable gift when you itemize.
Make an outright gift of a new policy. You can take out a new policy and irrevocably name UF as the owner and the beneficiary of the insurance contract. This method may be particularly attractive for the younger donor. Whether you make one single premium payment for the policy or pay annual premiums, each payment is tax deductible as a charitable gift when you itemize on your taxes.
See How It Works
- Contact the Office of Estate & Gift Planning at 352-392-5512, toll free at 866-317-4143 or email@example.com for additional information on life insurance.
- Seek the advice of your financial or legal advisor.
- If you include UF in your plans, please use our legal name and federal tax ID.
Legal Name: The University of Florida Foundation, Inc.
Address: 1938 West University Avenue, Gainesville, FL 32603
Federal Tax ID Number: 59-0974739
The University of Florida Foundation is not affiliated with, and does not provide, endorsements for professional advisors. Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Charitable Gift Annuities may not be available in all states.