Gifts of Life Insurance

Transform Your Policy Into Opportunity

Your life insurance policy can do more than provide security-it can create a lasting legacy for future generations at Cleveland State University. By redirecting a policy to CSU you no longer need, you can gain significant tax advantages and turn a simple asset into a powerful gift that shapes lives and advances education. There are a few simple ways to do this:

• Name CSU as a Beneficiary: Provides you with a charitable income tax deduction for your estate. This option is also revocable if your circumstances change.
• Transfer ownership of a policy to CSU: If you gift a paid-up policy, you will receive a deduction for the cash value. If you’re still paying premiums, your deduction is typically equal to the amount of premiums paid (basis). You and CSU can then decide to end the policy for its cash value or keep it active.

If you have any questions about a gift of life insurance, please contact us. We would be happy to assist you and answer any questions you might have.