Silhouette of the Coughlin Campanile with a bright cloudy sky.

Gift PlanningLife Insurance

< Back to Gift Planning Home

A gift of your life insurance policy is an excellent way to make a gift to South Dakota State University.

Whether you designate SDSU as a beneficiary or choose to gift a policy outright, this option empowers you to create a meaningful legacy at SDSU.

How It Works  

When you designate the SDSU Alumni & Foundation as the beneficiary of your life insurance policy, your gift has begun to take shape. You will continue to own and can make use of the policy during your lifetime. Your estate will benefit from an estate tax charitable deduction for the value of the gift. 

You can also make deductible contributions to the SDSU Alumni & Foundation each year, which we may use to pay the premiums. We benefit from the proceeds of your policy. 

Income Tax Deduction

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. 

How to Give Life Insurance 

  • Name the SDSU Alumni & Foundation as a beneficiary of the policy.
    • You can designate the SDSU Alumni & Foundation as the primary beneficiary for a percentage or specific amount or as the contingent beneficiary so that we receive the gift only if your primary beneficiary does not survive you.
  • Make an outright gift of an existing policy.
  • Make an outright gift of a new policy.
    • You can take out a new policy and irrevocably name the SDSU Alumni & Foundation as the owner and the beneficiary of the insurance contract. 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 on your taxes. 

Learn More About Beneficiary Designations

Questions?Connect with Us

Ned Gavlick and Sara Schneider from our Office of Gift Planning are here to answer your questions and guide you every step of the way. 

Request More Info
Aerial photo of the Coughlin Campanile with the SDSU Alumni & Foundation building in the background.

What other assets can I give?

You are advised to seek your own legal and tax advice in connection with charitable gift planning matters. The SDSU Alumni & Foundation does not provide legal, financial, nor tax advice. This communication is not intended or written to be used for the purpose of avoiding tax-related penalties.