Life Insurance

Using Your Life Insurance to Make a Philanthropic Gift

Most people have life insurance to ensure the financial security of their loved ones. Yet, life insurance can be used for other purposes, including leaving a philanthropic gift to the IEEE Foundation.

There are two different ways you can structure a gift of life insurance to the IEEE Foundation:

Name the IEEE Foundation as Beneficiary. You may have a life insurance policy that you have held for many years that has outlived its original purpose. By naming the IEEE Foundation as the primary or secondary beneficiary of the policy, your Estate may be able claim a charitable deduction for the proceeds passing to the IEEE Foundation.

Transfer ownership to the IEEE Foundation. If you have an existing paid-up whole life or universal life policy that has outlived its original purpose, consider gifting it to the IEEE Foundation. By making the IEEE Foundation the owner and beneficiary of the policy, you may be entitled to a tax deduction. (The IEEE Foundation reserves the right to cash in all donated life insurance policies.)

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Supporting the Profession; Leaving a Legacy

Former Director of the IEEE Foundation Board, Dr. John Impagliazzo is a true leader in the field of philanthropy. He willingly gives his time, talent and treasure to advance IEEE…

Robert Dent

Robert A. “Bob” Dent Recognized as Outstanding Philanthropist by AFP-New Jersey

IEEE Life Senior Member Robert A. “Bob” Dent has received the Association of Fundraising Professionals (AFP) New Jersey’s Excellence in Philanthropy Award for Outstanding Philanthropist for his philanthropy to IEEE…

Let Us Thank You - Join the League

If you decide to use your life insurance to make a gift to the IEEE Foundation, please share the good news with us! A member of the IEEE Foundation team will work with you to ensure your wishes can be fulfilled and acknowledge your generosity by recognizing you as a member of the IEEE Goldsmith Legacy League, an elite group of legacy giving donors. You may request to remain anonymous. 

The information on this site is for educational purposes only and is not intended as legal, tax, or investment advice. If you are considering a planned gift to the IEEE Foundation, we highly recommend you consult with your own tax and legal advisors to determine the best options for you.