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Gift of Insurance
A gift of life insurance to the Texas A&M Foundation can fund an endowment that will provide support to the area of Texas A&M you choose in perpetuity.
Gift of Insurance
Insurance
Texas A&M
How do I make a life insurance gift?
There are three types of life insurance gifts:
Transfer ownership of an existing policy and designate the Texas A&M Foundation as the beneficiary. You generally will receive a charitable income tax deduction equal to the lesser of the policy?s value or your cost basis in the policy (usually the total amount of premiums paid). Plus you will reduce your taxable estate.
Purchase a new policy with the Foundation as the owner and beneficiary. You will receive a charitable income tax deduction for the gift, as well as for additional contributions to cover the annual premium payments.
Retain ownership and change the beneficiary designation to the Texas A&M Foundation. Partial beneficiary designations, such as a specific percentage, offer another option.
If you would like to use the leverage of life insurance to provide a future endowment for Texas A&M, contact us and we will assist you and your insurance agent in the process.