Gifts of Life Insurance
A significant gift with a modest investment
You may make a gift of life insurance to the Michigan Tech Fund with either an existing policy, a paid-up policy, or a new policy. By naming the Fund as owner and beneficiary, you will receive an immediate income tax deduction for an existing policy or deductions for continuing annual premiums on a new policy. You may also designate the Fund as beneficiary (or successor beneficiary) of a single, term, or group life insurance policy, although there are no current income tax benefits.
When making a gift of life insurance, you may designate how the policy's eventual proceeds are to be used by Michigan Tech. Contact the Fund for more information on structuring your life insurance gift for maximum benefit and impact.
Benefits of life insurance gifts
- Immediate charitable deduction can reduce the net cost of your gift
- Simple to make
- Gift eventually supports the Michigan Tech program of your choice
McNair Society
The McNair Society recognizes those who have left a legacy for Michigan Tech by providing specific bequests or planned gifts through their estates. This giving society is named for Fred McNair, Michigan Tech's president from 1899-1924. Through McNair's vision and commitment to leave a legacy for future Michigan Tech students, the fledgling college grew and prospered during his presidency.
If you would like more information about the McNair Society or are considering including the Michigan Tech Fund in your estate plans, please contact Eric Halonen (ehalonen@mtu.edu), (906) 487-3325. If you have already included the Michigan Tech Fund in your plans and would like to be recognized, please let us know. We would be pleased to honor you as a member of the McNair Society. Please contact Eric Halonen or fill out the McNair Society Declaration of Intent form here on our website and return it to the Michigan Tech Fund (address) to Mr. Halonen's attention.
View the McNair Society Declaration of Intent Form