Northern Arizona University

Gifts of Life Insurance

The options for life insurance gifts to NAU are wide open. Your existing policy, paid-up policy or new policy all can be used to make a gift of life insurance to NAU. Naming the NAU Foundation as the owner and beneficiary of an existing whole life policy can result in an immediate income tax deduction. If the NAU Foundation is named both the owner and beneficiary of a new policy, or one that is not fully paid up, then deductions for continuing annual premium payments are possible.

Designating the NAU Foundation as beneficiary or successor beneficiary of a single, term or group life insurance policy is also an option, although the tax benefits are not as significant.

Contact our Director of Gift Planning, David Mays, for more information on arranging the specifics of how your policy’s eventual proceeds will be used, as well as maximizing the benefits to you and the University.

Benefits of Life Insurance Gifts:

• Simplicity.

• Eventual impact on the NAU program of your choice.

• Immediate charitable deduction can reduce the net cost of your gift.