How to Give

Not only do you have options for how your gift will be used, you also have options on what to give and how to give. There are gifts that cost you nothing now, gifts that pay you income, and gifts that allow you to decide what happens when.


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Ways to Use Life Insurance to Make a Gift to Union College

A life insurance policy can be a versatile and effective asset for making a significant charitable gift to Union . There are two basic ways insurance can be used to help support the College, and each offers different benefits to you.

Option 1: Make Union the beneficiary of the policy


  • Create a meaningful legacy at Union
  • Reduce the size of your taxable estate
  • Retain the flexibility to change your mind

Option 2: Make Union the owner and beneficiary of an existing policy


  • Make an irrevocable gift to Union today with little or no impact on your current cash flow
  • Receive a charitable tax deduction for a portion of your gift

In addition, if premiums remain to be paid on the policy, a charitable deduction is allowed for each gift you make to Union to cover the premiums.


  • To make Union a beneficiary of, or owner and beneficiary of, your life insurance policy, simply contact your insurer and complete the required form. You may need to provide the following information:
    Legal name: Union College
    Tax ID number: 14-1338580
    Address: 807 Union Street  Schenectady, NY  12308
  • It's also possible to use a charitable donation to buy a new policy to benefit the College. Contact us early in your planning if you'd like to pursue this option so we can work with you on this process.
  • If you are considering designating your gift for a specific purpose, such as a scholarship fund or support for a specific department, contact us to ensure that we understand your wishes.
  • Before finalizing a gift of life insurance, review your other assets (such as appreciated stock or IRA accounts) to make sure this is the savviest way for you to reach your goals.


Phone: 518-388-6156
Mail: 807 Union Street  Schenectady, NY  12308

Disclosure: This information is not intended as legal or financial advice. Please consult your attorney or financial advisor to learn if a charitable gift is appropriate for your situation.