3 Ways to Give Life Insurance
Powerful and Simple Way to Support Our Work
When the original purpose for a life insurance policy no longer applies—such as educating children now grown or providing financial security for a spouse—your policy can become a powerful and simple way to support our work. There are three ways to give life insurance to Wayne State University:
Name us a beneficiary of the policy. This gift is as simple as updating your beneficiary designation form with the policy holder. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn't survive you.
Make an outright gift of an existing policy. You can name us as owner and beneficiary of an existing policy. You qualify for a federal income tax charitable deduction when you itemize on your taxes. If you continue to pay premiums on the policy, each payment is tax deductible as a charitable gift when you itemize.
Make an outright gift of a new policy. You can take out a new policy and irrevocably name WSU as the owner and the beneficiary of the insurance contract. This method may be particularly attractive for the younger donor. Whether you make one single premium payment for the policy or pay annual premiums, each payment is tax deductible as a charitable gift when you itemize.
See How It Works
How You Can Benefit From Giving Life Insurance
Learn more about this simple gift by downloading your FREE copy of our informative guide Change Lives With Life Insurance.View My Guide
Donor Spotlight Elizabeth Buc
“Although I attended three separate universities, my support goes to Wayne State because of the impact it has had on my career, the relationships with faculty and others that were formed, and the important educational role it will continue to play for future students.”
Donor Spotlight Mildred Kaye
“I have greatly enjoyed meeting the students who receive scholarships from our fund. I recommend that everyone consider creating an endowed scholarship fund!”
Donor Spotlight Marie A. Tront
“Attending Wayne State was one of the most rewarding experiences of my life. I want to be sure that the intellectual stimulation of an urban university is there for future generations. By naming Wayne State in my trust, I can make a larger gift than I would be able to by check.”
Donor Spotlight Mel Janowitz
“I am a strong believer in charitable gift annuities as a pension supplement. I have two at Wayne. The interest rate is many times what I can get elsewhere, and it is only partially taxable. With a CGA to Wayne State, I can arrange for the money to be used to help needy students, support research endeavors, or help fill other needs.”
Donor Spotlight Austin & Daniel Kanter
“Wayne was there for me when I needed it. We wanted to give back. The marvelous letters from the scholarship recipients have brought great pleasure over the years. Harriet would have enjoyed them.”
- Contact Tina Daniels at (313) 577-8346 or firstname.lastname@example.org for additional information on life insurance.
- Seek the advice of your financial or legal advisor.
- If you include WSU in your plans, please use our legal name and federal tax ID.
Legal Name: Wayne State University
Address: 5475 Woodward Ave, Detroit, MI 48067
Federal Tax ID Number: 38-6028429