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Gifts of Insurance

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

Flowchart: Donor names the JMU Foundation as a beneficiary of a life insurance policy.

Benefits of gifts of life insurance

  • Create your legacy at Madison, help an area you are passionate about, and know you will make a difference for future generations
  • Receive a charitable income tax deduction for a life insurance gift given now
  • Receive a possible estate charitable tax deduction for a life insurance gift given in the future
  • Become a member of the Madison Founders Society

How to make a gift of life insurance

  • Please contact the Office of Planned Giving to discuss the type of policy in regards to our specific requirements
  • Reach out to your insurance carrier to cash in your policy or request a beneficiary form to designate James Madison University Foundation, Inc. as a partial, full or contingent beneficiary of your life insurance policy

Contact us

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 and more importantly, ensure your wishes can be honored.