Life insurance is an important yet often overlooked tool in charitable gift planning. Gerard Hempstead '89 has shown that it is possible—even easy—to make a significant donation to St. Louis University High School through a gift of life insurance.
Gerard, managing partner at Northwestern Mutual, arranged for SLUH to be the applicant, owner and beneficiary of a permanent life insurance policy on his life. He pays the school the premiums and, in turn, receives a tax deduction. While his annual premiums are $5,000, he only pays $2,500 (Northwestern Mutual pays the remainder through its matching gift program).
"Life insurance is a great tool for donors to make a substantial gift for a relatively modest amount of money," says Gerard, who serves on the SLUH board of trustees.
Gerard values the education he received at SLUH and wants to preserve the school's rich academic tradition for future generations.
"SLUH has always had the highest level of education affordable to all qualified students," he says. "It's a pillar in the city of St. Louis and needs the support of alumni, family and friends to continue its rich tradition."
Other Ways You Can Help
To learn how you can use planned giving to support St. Louis University High School, contact Melissa Jones, CFRE at 314-269-2186 or firstname.lastname@example.org.