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Life insurance

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When the original purpose for a life insurance policy no longer applies—such as educating children who are now grown or providing financial security for a spouse now deceased—your policy can become a powerful and simple way to support our work. There are three ways to give life insurance to Walla Walla University:

Name us a beneficiary of the policy. This gift is as simple as updating your beneficiary designation form with the policy holder. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn’t survive you.

Make an outright gift of an existing policy. You can name us as owner and beneficiary of an existing policy. You qualify for a federal income tax charitable deduction when you itemize on your taxes. If you continue to pay premiums on the policy, each payment is tax deductible as a charitable gift when you itemize.

Make an outright gift of a new policy. You can take out a new policy and irrevocably name Walla Walla University as the owner and the beneficiary of the insurance contract. This method may be particularly attractive for the younger donor. Whether you make one single premium payment for the policy or pay annual premiums, each payment is tax deductible as a charitable gift when you itemize.

Next steps

  1. Contact Dorita Tessier, CFRE, CSPG at (509) 527-2646 or dorita.tessier@wallawalla.edu for additional information on life insurance.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Walla Walla University in your plans, please use our legal name and federal tax ID.

Legal name: Walla Walla University
Address: 204 South College Avenue, College Place, WA 99324
Federal tax ID number: 91-0617727

Want to learn more about this simple gift? Download your FREE copy of our informative guide Change Lives With Life Insurance.

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