Commercial Annuities

A Smart Gift to Leave to UC San Diego

Banks and life insurance companies typically sell commercial annuities. They provide the owner with fixed or variable income based on commercial rates of return. Because commercial annuities are subject to income and estate taxes, and for larger estates, federal taxes, they are often considered among the best assets to leave to charity. The best way to give a commercial annuity in support of our work after your lifetime is to name us as beneficiary.

Upon withdrawal, a distribution from a commercial annuity will be subject to federal income tax and applicable state income tax. By naming us as beneficiary, UC San Diego can receive your commercial annuity completely tax-free and any assets contributed to UC San Diego in this manner will result in a charitable deduction and help reduce any estate tax your estate might incur.

Making this gift is as simple as updating your beneficiary form with your bank or insurance company. 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.

All

Gifts That Pay

Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.

Next Steps

  1. Contact Danielle R. Dawson, JD, MBA at 858-534-2249 or ddawson@ucsd.edu for additional information on commercial annuities.
  2. Seek the advice of your financial or legal advisor.
  3. If you include UC San Diego in your plans, please use our legal name and federal tax ID.

Legal Name: UC San Diego Foundation
Address: 9500 Gilman Drive #0937, La Jolla, CA 92093
Federal Tax ID Number: 95-2872494