Timothy P. Linck

Ferris State University alumnus Timothy P. Linck (Business '89), president of Linck Insurance Agency in Ravenna, Mich., recently established the Timothy P. Linck Endowment Fund through the Ferris Foundation. The endowment will allow the University to take advantage of new opportunities for students, faculty and staff or to provide assistance in areas of need.

Linck made his gift to the University through a charitable contribution of a life insurance policy. "It's really the most cost effective way to give money," said Linck. "Especially if you're younger, it's a great way to give back to your alma mater."

A charitable contribution of a policy offers a number of practical advantages:

• Your gift can be made on an installment plan. For the annual cost of a whole life policy premium, you can provide Ferris State University with a substantial future benefit from the insurance policy proceeds.
• The benefit to FSU is guaranteed - a fixed amount not subject to fluctuations, as are some other type of assets.
• Insurance proceeds are paid promptly. They are not subject to the delays and costs of the probate process.
• A substantial gift can be made without reducing other assets intended for family members.

Rick Duffett, executive director of the Foundation, is thrilled to see young alumni giving back to the University.

"We are beginning to see more and more young alumni giving back to their alma mater,” said Duffett. “And with Tim designating the proceeds of his gift to the Fund for Excellence, this helps our University take advantage of new opportunities for students, faculty and staff or to provide assistance in areas of need," added Duffett. "It's a win-win situation for everyone."

Alumni and friends who wish to help the University have a number of options to consider when gifting insurance. You can name Ferris as the beneficiary of an existing policy, make an irrevocable assignment of an insurance policy to the University or purchase a new policy that names Ferris as the owner and beneficiary.

For more information on gifting insurance, please contact the Ferris Foundation at (231) 591-2365 or fsufdn@ferris.edu. You can obtain details about establishing scholarships or endowments by calling the Advancement Office at (231) 591-3815.