Planned Giving

Insurance Gift

Giving a life insurance policy to Claflin University is a practical, easy way to make a planned gift. The insurance gift names Claflin University as primary or contingent beneficiary, and donor may give either a policy that is no longer needed or donor may obtain a new policy.

Advantages of giving life insurance:

• if donor pays premiums on a policy owned by Claflin University and names the University as beneficiary, all premium payments are tax deductible
• if donor donates to Claflin University a paid-up policy, the replacement value of the policy becomes deductible
• if donor gives an existing policy to Claflin University and continues making premium payments, a tax deduction is permitted for the policy’s cash value at the time of the gift
• life insurance donated to ClaflinUniversity is no longer part of the donor’s estate and avoids probate, therefore lowering estate taxes

To make a gift or to request additional information about deferred charitable gift annuities, contact:

Sunya L. Young
Director of Planned Giving
Division of Institutional Advancement
400 Magnolia Street Orangeburg, SC 29115
Phone: (803)535-5704; Toll Free: (888)223-7103; Fax: (803)535-5371
E-mail: syoung@claflin.edu

The information provided on this website is for informational purposes only and is not intended as legal, tax or investment advice. Please consult your accountant, financial advisor or attorney to assist you in determining which planned giving option is most appropriate given your financial goals and objectives.