Commercial Annuities

Shape Our Future and Receive Payments for Life

Have you ever wondered how to turn your personal experience with Saint Leo University into a legacy that will have an impact on future generations?

By including Saint Leo University in your long-term estate or financial plans, you can make a powerful testament of your priorities. And because there are several ways to accomplish this, you have the flexibility to fulfill your goals in a way that works best for you. One option, annuities, allows you to shape our future while you receive fixed, dependable payments for life.

Commercial Annuities vs. Charitable Gift Annuities

The major difference between commercial annuities and charitable gift annuities are the payout rates. While a commercial annuity typically pays higher rates, a gift annuity provides more tax benefits while still generating income for life. Commercial annuities are sold by banks and insurance companies. Similar to gift annuities, they allow the option to start receiving payments immediately or defer to a later time.

Giving a Commercial Annuity

Making a gift of a commercial annuity is as simple as updating your policy’s beneficiary with the annuity holder. You can designate Saint Leo University as the primary beneficiary or cut out a percentage of the annuity to gift. There is even the option to make Saint Leo University the contingent beneficiary of your policy, in the event your primary beneficiary does not survive you. By naming Saint Leo University a beneficiary, you will help reduce estate taxes that may incur, and the benefit the university receives will be completely tax free.

How It Works

The concept of a gift annuity is simple. You make a donation using cash, marketable securities, or other assets. In exchange for your gift, you receive fixed payments for life. The rate of payment you receive doesn’t fluctuate with the stock market, interest rates, or inflation. It is firmly set at the time of your gift and never changes. After your lifetime, the remaining balance is used to help fulfill our mission and your legacy.

Your Benefits

  • You have potential to receive increased disposable income.
  • You are eligible for a potential income tax deduction for a portion of the gift.
  • A portion of your payment is income tax–free throughout your estimated life expectancy.
  • In most cases, any long-term capital gains income can be reportable over your life expectancy.
  • After your lifetime, the remaining portion of your gift will support our mission, helping to fulfill your philanthropic goals.

Feel free to contact us with questions about charitable gift annuities and to discuss current payment rates.

 

Next Steps

  1. Contact Stephen Kubasek, director of Planned Giving, at (352) 588-8355 or stephen.kubasek@saintleo.edu for additional information on giving personal property.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Saint Leo University in your plans, please use our legal name and federal tax ID.

Legal Name: Saint Leo University
Address: PO Box 6665 - MC 2227, 33701 State Road 52, Saint Leo, FL 33574
Federal Tax ID Number: Please contact us for our federal tax ID number.

 
California residents: Annuities are subject to regulation by the State of California. Payments under this agreement, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
 
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.