Turning Existing Coverage Into Meaningful Impact
Life insurance can serve as a valuable tool in charitable planning. Some donors choose to contribute policies that are no longer needed for their original purpose, while others designate NYU Langone as a beneficiary as part of a broader philanthropic strategy.
Depending on how a policy is structured, donors may be eligible for tax benefits associated with transferring ownership, maintaining premium payments, or naming NYU Langone as a future beneficiary.
Ways Life Insurance Can Support Your Giving Goals
Contributing an Existing Policy
You may choose to transfer ownership of a life insurance policy to NYU Langone or designate NYU Langone as a beneficiary. Depending on the structure of the gift, you may receive tax benefits related to the policy’s value or future premium payments.
Supporting Premium Payments
Some donors choose to continue paying premiums on policies designated to benefit NYU Langone, which may also provide tax advantages in certain situations.
Naming NYU Langone as a Beneficiary
Another option is to retain ownership of your policy while designating NYU Langone as a full or partial beneficiary. This approach allows you to maintain flexibility while creating a meaningful future gift.
Next Steps
- Contact Staci Weininger, Senior Division Director for additional information or to learn more about the different options for supporting NYU Langone Hospitals or NYU Grossman School of Medicine with your gift.
- Seek the advice of your financial or legal advisor.
- If you include NYU Langone Hospitals or NYU Grossman School of Medicine in your plans, please let us know so we can be sure to welcome you to our John Revere Society.