Gift Options

GIFTS OF LIFE INSURANCE

Most of us think of life insurance as protection, especially for our loved ones. But it is also a powerful tool you can use to champion our work far into the future. Here's what you need to know.

IS THIS GIFT RIGHT FOR YOU?

Three yes/no questions can help you decide if using life insurance to support our work is right for you.

If you can answer yes to each of the following questions, you may find that donating an existing life insurance policy makes sense for you. If not, we can help you find an option that's a better fit.

  • Do you have a life insurance policy that no longer fits the need for which it was originally intended?
  • Would you like to receive tax benefits from your gift this year?
  • Would you like to support NDSU?

HOW TO COMPLETE YOUR GIFT

A gift of life insurance allows you to make a sizeable impact on our work without diluting other assets you've earmarked for your family.

Where to Start
Contact your insurance company to arrange for assignment of ownership of the policy at its current value to NDSU Foundation and Alumni Association. Then, one of three scenarios could unfold:

  • We might surrender the policy for cash once we receive ownership, providing us with much-needed funds and relieving you of the obligation to make ongoing premium payments.
  • We may keep the policy in force so that the original face value will ultimately become your gift. In this case, you pledge to make cash gifts at least annually, which we will use to pay the premiums. The gifts are tax-deductible.
  • Another alternative is that we might decide to accept a smaller amount of paid-up insurance and still keep the policy in force for your lifetime, and you would be relieved of the obligation to make further premium payments.

Contact a staff member








NDSU Foundation and Alumni Association | 1241 North University Drive | PO Box 5144 | Fargo, ND 58102 | 800-279-8971 or 701-231-6800 | Fax: 701-231-6801 | office@ndsualumni.com