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Make a

lasting investment

in our future

  • Support a cause that's important to you with a planned gift
  • Put your assets to work with our tax-efficient charitable strategies
  • Take advantage of the many tax benefits of making a gift
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Gifts of insurance

A gift of your life insurance policy is an excellent way to make a gift for the benefit of Virginia Commonwealth University. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to Virginia Commonwealth University*. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.

Gift of Insurance
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Benefits of gifts of life insurance

  • Receive a charitable income tax deduction when you name as beneficiary and transfer ownership of a cash-value life insurance policy to Virginia Commonwealth University*
  • If premiums remain to be paid on the policy and Virginia Commonwealth University* retains the policy to maturity, you can receive additional tax deductions by making annual gifts to pay those premiums
  • If Virginia Commonwealth University* cashes in the policy, you will see firsthand how your gift supports what you care about most
  • If VCU* maintains the policy to maturity, or if you named VCU* as a beneficiary and retained ownership, once the policy matures, the proceeds of your policy will be paid to VCU* and used for the unrestricted or restricted purpose that you have designated.

How to make a gift of life insurance

To make a gift of life insurance proceeds, please contact your life insurance provider, request a beneficiary designation form from the insurer and include Virginia Commonwealth University* as the beneficiary of your policy. To make a gift of a life insurance policy, please contact us to review the university gift acceptance policy for gifts of cash-value life insurance policies before transferring ownership of the policy to VCU*.

Contact us

If you have any questions about making a gift of a life insurance policy or its proceeds, 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, recognize you for your gift and include you as a member of the appropriate legacy society at VCU*.

*Or an affiliated foundation for the benefit of VCU.

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