Powerful and Simple Way to Support Our Work
When the original purpose for a life insurance policy no longer applies — such as educating children now grown or providing financial security for a spouse — your policy can become a meaningful way to support our work. There are three ways to give life insurance to Mayo Clinic:
Name us a beneficiary of the policy. This gift is as simple as updating your beneficiary designation form with the policyholder. 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 if you itemize.
Make an outright gift of a new policy. You can take out a new policy and irrevocably name Mayo Clinic 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 on your taxes.
Free Estate Planning Tool
Visit our free, no-obligation tool to make a statement for Mayo Clinic through your life insurance. Our trusted partner, Giving Docs has a safe and secure resource just for you.Get Started
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How You Can Benefit From Giving Life Insurance
Learn more about this simple gift by downloading your FREE copy of our informative guide Life Insurance: Expand Your Charitable Reach.
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You can make a big difference with just a little effort by including a gift to benefit Mayo Clinic your will or living trust. Learn more in our free kit Transforming Care With a Gift to Mayo Clinic.
Not Sure How to Begin Planning?
This comprehensive estate planning kit will help you protect loved ones, organize everything in on place and save on taxes.Download My Kit
- Contact the Mayo Clinic Office of Gift Planning at 800-297-1185 or email@example.com for additional information on life insurance.
- Seek the advice of your financial or legal advisor.
- If you include Mayo Clinic in your plans, please use our legal name and federal tax ID.
Legal name: Mayo Clinic
Address: 200 First Street SW, Rochester, MN 55905
Federal tax ID number: 41-6011702