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Getting Started
Going Further

Meet Our Staff

Contact Us

Office of Trusts, Estates, and Gift Planning
Cornell University
130 E Seneca Street, Suite 400
Ithaca, NY 14850
Phone: 1-800-481-1865
Fax: 607-254-1204
Email:
gift_planning@cornell.edu

Disclaimer

Gifts of Life Insurance

Life Insurance Policy

An important but frequently overlooked role of life insurance is the one it can play in charitable gift planning. Life insurance itself can be the direct funding medium for a gift, permitting the donor to make a substantial gift (face value of policy) for a relatively modest annual outlay (i.e., the premium payment).

Life Insurance Policy
Life-Insurance-Policy.png
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See Diagram

 

Life Insurance to Replace Gift

Life insurance can also be used to replace an asset that has been given to Cornell University. How it works: After a donor makes a gift to Cornell University, the tax savings produced by the charitable deduction are used by his or her children or an irrevocable trust to purchase and pay the premiums on a life insurance policy on the donor's life. Such an arrangement can ensure that the interests of family beneficiaries will not be adversely affected.

Life Insurance to Replace Gift
Life-Insurance-to-Replace-Gift.png
Click to
See Diagram

 

 

More Information

Contact Us

Office of Trusts, Estates, and Gift Planning
Phone: 1-800-481-1865
Fax: 607-254-1204
Email: gift_planning@cornell.edu

 

Cornell University
130 E Seneca Street, Suite 400
Ithaca, NY 14850