Retirement Assets and Life Insurance

Naming AANA Education Foundation as a beneficiary on your retirement account or life insurance policy is a simple and powerful way to support the organization without changing your will or living trust. Beneficiary designation gifts pass directly to AANA Education Foundation without going through the probate process and go right to work to help us provide surgical training and education.


Retirement accounts
Step 1: Ask your retirement plan administrator or financial institution for a change of beneficiary form. Please list us as:


AANA Education Foundation
9400 Higgins Road, Suite 200
Rosemont, IL 60018
Federal Tax ID # 26-2136165


Step 2: Please let us know when you’ve made a beneficiary designation to AANA Education Foundation so we can thank you. Ways to notify AANA: via mail at the address noted above, email or by phone (followed by a print/digital confirmation). (enter appropriate AANA contacts’ phone/email)


Bank and Investment Accounts & Commercial Annuities

You can leave a legacy by naming AANA Education Foundation as a Transfer-on-Death (TOD) or Payable-on-Death (POD) beneficiary on a bank or investment account, or a commercial annuity. Check with your financial institution to see if this option is available to you.


Life Insurance Policies

Designating AANA Education Foundation as a beneficiary of an existing or new life insurance policy is a simple way to support our work.


Types of insurance charitable gifts

    1. Gift an existing policy – You may give an existing policy to AANA Education Foundation, in which case all ownership rights should be assigned to our organization, and AANA Education Foundation is named as the policy’s beneficiary. You can then take an income tax deduction for the lesser of premiums paid or the value of the policy. If you continue to pay the premiums, they can also be taken as a deduction.


    1. Purchase a new policy – AANA Education Foundation may apply for a new policy on your life, with the organization as the original applicant, policyowner and beneficiary (subject to state insurable interest laws – see your legal advisor for the laws in your state). You should transfer the funds to pay the premium to AANA EF, and those funds will then be income tax deductible. AANA EF will then pay the premiums to the insurer on behalf of the donor. Upon the donor’s passing, the life insurance proceeds will be sent to AANA Education Foundation in the donor’s name, and these proceeds will not be in your estate, because no incidents of ownership were ever held by you.


  1. Naming AANA Education Foundation as a beneficiary of a new or existing policy – You may designate AANA EF as the sole or partial beneficiary of a policy that you continue to own. This will not produce an income tax charitable deduction at the time the beneficiary designation is made, but it will result in an estate tax charitable deduction for the death proceeds passing to the organization at your death.



  • For existing policies: Contact your insurer to inform them of your plan to either “gift” or “name” AANA Education Foundation as beneficiary (and/or owner) of the policy.
  • Apply for (or designate) a permanent life insurance policy (whole life or Universal Life). It can NOT be a Term policy.
  • Ensure the policy is paid up within no more than 15 years.
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