A smart way to be true to your school

Christin Mastelotto

Many people credit their success in life to a special teacher who had an influence on their future. We remember teachers, nuns, priests and lay people who helped us to realize our unique talents. This is integral to the mission of Catholic schools, and if we think back to our school days, those teachers and memories come rushing back.

Catholic schools keep this mission today, helping students grow and form their whole person in mind, body and spirit. Yet these schools face challenges as they nurture young people today and look to the future as their students become adults and help to forge a more just society. As we grow and mature, it becomes a goal of many alumni to help their schools face these challenges, to give back, to say thank you, and to help the next generation.

Here is a secret: You don’t have to be a millionaire to give back like one. Life insurance is an affordable way to leave a large, lasting legacy to a charity, school or religious organization. If you currently donate sporadically or even commit annually to charitable organizations, adding life insurance as a planned gift can exponentially increase your impact.

Here’s why: Planned giving is not limited by your current wealth. A small increase in your monthly budget that goes toward a life insurance premium payment can result in a substantially larger gift at your passing than recurring donations that are based on your regular income. Many people who make yearend charitable contributions to their alma mater, if they reallocated those funds into an insurance premium, could leave instead a much larger contribution in the future.

For example, for about $60 a month, a 40-year-old can use a permanent life insurance policy to leave a $50,000 tax-free gift to their school, as one of their named beneficiaries. To gift the same amount in annual $600 donations would take more than an average lifetime. Also, more than one beneficiary can be named at percentages of your choosing.

Planned giving contributions are vital to a nonprofit’s longevity and ability to carry out its mission, and they help organizations weather annual fluctuations in charitable donations. If you are passionate about making a difference and want to increase your charitable impact exponentially, life insurance can be an excellent way to make that happen.

A product of Catholic schools, Christin Mastelotto is local insurance agent. She is member of Saint Ann Parish. Her family are both alumni and boosters.