Insurance Annuity Beneficiaries 

Insurance annuities, unlike life insurance, carry an income tax burden. Your named beneficiary is responsible for paying the income tax due on the growth of the annuity while you owned it. The tax burden makes these assets a popular choice to leave to a charitable organization like Willamette because we, as the recipient, can eliminate the tax bill.

Changing Beneficiaries
Contact your insurance company for its change of beneficiary form for the insurance annuity. If you would like to name Willamette University as a beneficiary, simply decide what percentage of the annuity's value (0–100 percent) you would like us to receive and name us, along with the stated percentage, on the beneficiary form. Then return the form to your insurance company.

For More Information
Before deciding who will get what in your estate plan, you'll want to consult an estate planning attorney. To learn more about the programs and work your gift can support, please contact Lori L. Hoby at (866) 204-8102 or lhoby@willamette.edu.