A Gift in Thanksgiving to a School Community
Creating an insurance policy to benefit an endowment fund
Samantha Holowka and her husband, Mark, have two young children who attend Queen of Angels Catholic School. Samantha said she and Mark have learned so much through the school community about communicating effectively and lovingly when teaching their children to do their best in everything they do. She added that the school has strengthened the spirituality of both the children and her entire family.
The Holowkas knew they wanted to use their talents, time, and treasure to help secure the future of their school community so others could continue to benefit from the loving environment that has had such an impact on them. As they looked at different channels of giving, they decided to establish a life insurance policy for the Queen of Angels endowment fund that would allow them to have a greater effect than direct cash donations given each year.
Samantha, a wealth management advisor with Northwestern Mutual, had seen firsthand the impact a life insurance policy can make on families and organizations when incorporated in a family’s strategic plan. She shared, “[an insurance policy] is a tool that can have a greater impact than other gifts because the cost is pennies compared to the dollar value of the gift.”
Her company has a matching dollar policy for life insurance premiums, which she leveraged. She also receives a tax deduction on the amount of the premiums each year.
Samantha stressed that you do not have to have a deep knowledge of finance to establish an insurance policy that benefits a charity or endowment fund. She did suggest talking with a financial advisor who is well versed in permanent life insurance solutions, retirement, and estate “distribution” planning to help you achieve your giving goals.
The Holowkas’ gift to the Queen of Angels Catholic School Endowment Fund will help the school continue to teach children and families positive and loving Catholic values for years to come.
Article written in 2020.