Advancement: Legacies and Life Insurance (with Steve Melniczak)

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Planned Giving Officer Keith Johnson invites alumnus Steve Melniczak to the studio to discuss everyone’s favorite topic – life insurance.

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Show Transcript:

Hi, my name is Keith Johnson.  I serve as the Planned Giving Officer at Cairn University and also Director of The Regency Foundation.  Welcome to our wealth planning podcast series.  We hope to provide some practical ideas on how to establish Godly wealth management habits that can be applied to your life.
In this Podcast Series we have been focusing on how to properly manage 13 wealth management issues that most of us may face in our lifetime.  Most of these financial issues result in significant tax consequences.  The one tax savings tool that Congress allowed to remain is Charitable Giving.  Contributions to a charity such as Cairn University is by far the best way to avoid paying taxes.  Selecting the right charitable giving technique, however, is really important.  Charitable giving provides a way for people to control where their money will go and how it will be used rather than giving it to the US Government through taxes to spend.
Planned Giving provides a way for people to create a lasting legacy.  Planned giving offers tools that provide a way for people to determine how they want to support causes and organizations they care about both in life and in death.  As we go through this series of podcasts, I will continue to offer some unique ways you can support Cairn University.
Many of our alumni and friends have a desire to create a legacy by helping the University in a meaningful way, but feel they do not have the assets or net worth to make a difference.  Today we want to share a unique planned giving technique that can allow almost anyone to leave a significant gift at death.
To help us explain this technique I am pleased to introduce a special guest. Steve Melniczak from State Farm Insurance joins us today.  As a former student of Cairn University, Steve has a special place in his heart for the students here.   Welcome Steve.

  1. Take a moment and share with us a little about your background.
    1. Attended 2003- got married, NW Mutual.
    2. Worked with Mel Nace, State Farm Agent and former Cairn University Board Member.
    3. Opened separate agency and office in 2009.
  1. Before we get into our planned gifting idea, let’s talk briefly about the importance of insurance.
    1. Why do people need personal insurance?
      To protect against risk.
    2. What types of risks do people generally have?
      Risk of owning an auto, risk associated with owning a home or business.
    3. Why do you offer life insurance? Do people still need life insurance in the 21st Century?
      Yes, most people are under-insured when it comes to life insurance. 
  1. As an insurance specialist, how can you help our alumni and former students leave a significant legacy at their death and honor Cairn University but not diminish the inheritance they might want to leave for their children and grandchildren?
    Gift of life Insurance, naming Cairn University both owner and beneficiary.
  1. Do people actually buy a life insurance policy and gift it to the university?
  2. How much would such a policy cost?
  3. How long will they be required to pay the premium?
  4. Are there any tax deductions they can receive for the gift?

So, today’s planned giving idea:

  1. Allows one to help organizations such as Cairn University in a significant way.
  2. Purchasing a life insurance policy and then donating it could be used to create a significant legacy after one passes away.

We are so grateful for the significant number of donors who already have given to the University in the gift of life insurance.  Your support provides scholarships and grants to some 90% of our student body.
If you would like more information regarding this unique planned gift idea, please reach out to me and I will put you in touch with our guest Steve Melniczak.
At Cairn University and The Regency Foundation we want to be a valuable resource of information and ideas you can use in a practical way. To that end, we are offering one hour of financial planning consultation at no charge to you.  If would like to take advantage of this benefit or if you have any questions, feel free to contact me by email at [email protected].
Thank you for your generosity and I look forward to sharing next month’s Advancement podcast.


Advancement PodcastAdvancement is a  podcast from the Office of Advancement. Planned Giving Officer Keith Johnson helps listeners understand financial principles, and establish practical and godly wealth management habits.


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