Gift of Life Insurance
If you are thinking about a contribution to Augustana College, a gift of life insurance could be a sensible and generous course of action.
Setting up a Life Insurance plan:
- If you have an already existing life insurance policy, you may contact the insurance company to name Augustana College ultimate beneficiary.
- If you would like a current income tax deduction, you may also transfer ownership to Augustana College on existing policies.
- If you would like to establish a new life insurance policy naming Augustana College irrevocable owner and beneficiaries, please contact your preferred insurance company. The most efficient way to make premium payments is to make a contribution equal to the premium payment directly to Augustana College requesting we pay the premium. This may provide you with a charitable income tax deduction.
The benefits of a Life Insurance plan:
- Charitable deduction when you name us beneficiary and assign us ownership
- Flexibility through naming us beneficiary but keeping ownership
- Security for your family by naming us contingent beneficiary
- Reduction in estate taxes because proceeds are removed from your estate
For more information, please contact:
Scott Park, Assistant Vice President of Planned Giving
639 38th Street
Rock Island, IL 61201
(800) 798-8100 x7587