Life Insurance Gifts Make a Difference

In the past several months, Wentworth has received three generous gifts from alumni who had listed Wentworth as a beneficiary of their life insurance policies. These gifts, totaling almost $70,000, came from alumni who probably were never in a position to give a five-figure gift during their lifetime, but by maintaining a small life insurance policy, they were able to have an impact that will last beyond their lives.

“Life insurance is a relatively easy way to make a gift that goes beyond what most people can afford to give while they are living,” says Dan Ryan, Vice President for Institutional Advancement. “Most of us cannot afford to write checks with a lot of zeros on them, but a life insurance policy with a hundred thousand dollar payoff might cost no more than a few trips to Starbucks every month.”

Hank Taylor, class of ’62, has been maintaining a policy for Wentworth for several years. “I’m in the insurance business, so I have seen how insurance can help people accomplish their goals. When I pass on, Wentworth is going to have $100,000 gift so that it can keep on helping young people the way it helped me.”

Mike Lierman, Interim President of Wentworth, knows how helpful these gifts are.  “People are free to designate what they want their life insurance proceeds to go to, or they can leave it open for the school to decide. For the gifts that came in May, both were undesignated, so we put the money toward scholarships. When an old boy passes, it just seems fitting that he would have an impact on the next generation.”