"I had always wanted to leave money to Temple University. Since I bought a life insurance policy in the 70's, the annual life insurance premium has always been a legitimate deduction on my tax return because I am giving it to the University. I really believe it is our mission in life to not only take care of ourselves, but also to help others for their futures."

John Hagopian, EDU '47

Giving through life insurance is an easy, powerful way to make a substantial gift to Temple University at a low, affordable cost. You may have a current life insurance policy that is no longer needed for its original purpose. You may wish to purchase a new policy to support your charitable interests. There are some decidedly good advantages to a gift of life insurance:

• The value of your old policy can provide you with an income tax deduction.
• Any future premiums you pay to keep the policy in force can also be tax-deductible.
• You can make a large gift (the future death benefit) at a low, affordable cost.

Ms. A, a 55-year-old female, non-smoking alumna, wants to endow a scholarship in memory of her father (also a Temple graduate). Ms. A decides to obtain a permanent life insurance policy with a death benefit of $100,000. The policy premiums will cost her $2,500 per year for the next 12 years for a total outlay of $30,000. Ms. A names Temple University the owner of this policy and her scholarship endowment as the beneficiary. Accordingly, the premiums are tax deductible. Since Ms. A is in the 28% tax bracket, her subsequent tax savings reduce the ultimate cost for this policy to $21,600.

Ms. A has accomplished a significant future gift in memory of her father that will provide scholarships in perpetuity. This is done at a low, affordable cost and in the process, Ms. A is recognized as an honored member of Temple's Acres of Diamonds Circle and Russell H. Conwell Society. If you are interested in making a gift of life insurance to Temple University, keep these facts in mind:

• You must designate Temple University as the owner and beneficiary of the policy. Temple will then use your tax-deductible contributions to pay the premiums.
• If you have an existing policy that you no longer need, you can designate Temple as the owner and beneficiary of the policy. You will then be entitled to an income tax deduction equal to the lesser of the cash value of the policy or the total premiums paid.

If you would like to learn more about how to give life insurance, please contact Jerry Rohrbach, Director of Planned Giving, at 215-204-5741 or 800-822-6957 or e-mail jerry.rohrbach@temple.edu.

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