Gifts of Life Insurance or Retirement Assets

A gift of life insurance can be made during your lifetime by transferring ownership of the policy to the UCSF Foundation. The value of your income tax deduction will be based on the cash surrender value of the policy as of the date of transfer. A gift of life insurance can also be made at the time of your death by naming the UCSF Foundation as the beneficiary of the policy. For such a gift, your estate will be entitled to an estate tax deduction based on the value of the proceeds paid to UCSF.

A gift of retirement plan assets can be made by naming the UCSF Foundation as the beneficiary of all or a portion of the assets. This is usually done on the retirement plan's beneficiary designation form. As with life insurance, your estate will be entitled to an estate tax deduction based on the value of the assets paid to UCSF. Given the income tax treatment of retirement plan assets, it is often advisable, when possible, to use such assets to satisfy charitable bequests.

Most life insurance and retirement plan beneficiary designation forms require you to provide the following identifying information:

Name of Beneficiary: University of California, San Francisco Foundation
Address: UCSF Box 0248, San Francisco, CA 94143-0248
Social Security Number/Tax Identification Number: 94-2829914

Because the space on beneficiary designation forms is generally limited, including additional instructions on the form may cause confusion when it comes time to make the distribution to UCSF. Therefore, you should provide a copy of the completed beneficiary designation form to the Office of Planned Giving. If you would like UCSF to use the gift for a particular purpose, it is recommended that you specify the purpose in an accompanying letter.

Whether you make a gift of life insurance or retirement plan assets, it is always advisable to first contact the Office of Planned Giving to discuss the details of the gift. Click here for an example of how they work.

To Learn More
Read more about this and other types of gifts in Leaving a Legacy: A Guide to Gift Planning. Ask for a copy of this brochure by using the form on the Request More Information page.

Download the Comparison Chart of Giving Plans