Use Alabama Life Insurance to Leave a Gift to your Alma Mater

Category: Blog

Founded in 1831, the University of Alabama is the largest of the over 50 colleges and universities in the state. Famous for Crimson Tide football, the school has over 30,000 students. Should you be a proud alumnus from UAB, or another Alabama college, you may be interested to know that you may make a gift of a life insurance policy to your alma mater. Contact your Alabama life insurance agent to find out how to purchase a life insurance policy with your alma mater, or another college or university, as the beneficiary.

Leaving proceeds from your life insurance policy to a college or university is a memorable legacy that may benefit the school for years to come. You may use an existing life insurance policy that you no longer need, and name the college as the beneficiary, or you may purchase a new policy for the same purpose. Should you choose to purchase a new policy, you may be able to take premium payments as a tax deduction, but you’ll need to consult your tax adviser about that.  

Making a gift of a life insurance policy to your alma mater may be a wonderful way to leave your mark on your school, and the gesture may carry extra sentiment if your children and grandchildren go on to attend your alma mater. If you decide to make your alma mater the beneficiary of a life insurance policy, contact your Alabama life insurance agent to begin the process.



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