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A planned gift to Purdue may be made through a gift of life insurance.
For the gift to be tax deductible, Purdue University must be the
owner and beneficiary. Policies may be new, have premiums remaining
to be paid, or be a fully paid policy that you have owned for years.
If premiums remain to be paid on a policy for which Purdue is the
owner and beneficiary, the payment will be a deductible contribution.
Purdue could also be named as the beneficiary of a policy that it
does not own. This provision will not provide any current tax advantages,
but the money passing to Purdue at the insured’s death will
qualify for the federal estate tax charitable deduction.
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Benefits:
- Tax deduction for premiums paid by donor.
- Avoid estate taxes and probate costs.
For
more information, please call the Planned Giving Office at (800) 677-8780
or e-mail plangift@purdue.edu. |
