Gifts of Life Insurance

You can donate a life insurance policy to the Montclair State University Foundation or simply name the Montclair State University Foundation as the beneficiary. For the gift of a paid-up policy, you will receive an income tax deduction equal to the lesser of the cash value of the policy or the total premiums paid. To qualify for the federal charitable contribution deduction on a gift of an existing policy, you must name the Montclair State University Foundation as owner and beneficiary.

For more information based on your specific situation it is important to consult with your attorney, tax professional or investment professional. Also, our own knowledge of charitable giving methods is available for you and your advisors, with no obligation. For more information, please contact Jan Smith at
973-655-3439 or via email at smithja@mail.montclair.edu.