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Gifts of Life Insurance

Making a donation through your life insurance policy

Many individuals have life insurance policies that hold benefits they no longer need. Making a donation through your life insurance policy is simple, and it allows you to make a significant gift at little cost to you. There are several options for gifting life insurance that you can consider based on your needs.

University as beneficiary

Simply name the university as a beneficiary of a current policy to receive the policy proceeds. The policy proceeds will not be included in your estate for estate tax purposes.

Outright gift of a paid-up policy

To donate a paid-up policy, the donor simply transfers ownership of the policy to the University or the APU Foundation. Once APU becomes owner, we will either take the policy’s cash value or we will retain the policy. By doing so, you can receive a current deduction amounting to the approximate cash value of the policy.

New Policies

You can take out a new policy naming APU owner and beneficiary, and continue making the premium payments. Or, donate an amount equal to the premium payments to the university. In either case, you can receive a current tax for your continuing premium payments, and a future estate tax deduction.

Existing Policies

You can also donate an existing policy and keep up the premiums. If APU is named owner and beneficiary, you may deduct future premium payments as charitable contributions, as well as an amount equal to the cash value of the policy at the time the gift is made.