Gifts of Insurance
A gift of your life insurance policy is an excellent way to make a gift to Hillsdale College. If you have a life insurance policy that has outlived its original purpose (e.g., to provide security to minor children), consider making a gift of this policy to Hillsdale College.
Benefits of gifts of life insurance
- Receive an immediate charitable income tax deduction for the cash value or cost basis of your policy
- Receive additional income tax deductions each time you make a premium payment on this policy
- If the policy is redeemed, you will be able to see your gift at work on our campus and among our students
- If we hold the policy as a beneficiary, we will be able to use the proceeds at your passing and your estate will receive a tax-saving deduction
How to make a gift of life insurance
To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include Hillsdale College as the beneficiary of your policy.
If you have any questions about making a gift of a life insurance policy, please contact us. We would be happy to answer questions that you have.
Please let us know if you have already named us as a beneficiary of your life insurance policy. We would like to thank you for your gift.
You can also designate Hillsdale College as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. Your estate may benefit from an estate tax charitable deduction.
Your deduction for the gift of life insurance will depend on whether the policy has increased in value above the premiums and whether the policy is paid up or there are remaining payments to be made.