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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:

Stephen M. Davis, Assistant Vice President of Legacy Planning
Augustana College
639 38th Street
Rock Island, IL 61201
(800) 798-8100 x7587
(309) 794-7587