Giving the Gift of Life Insurance

Commitments are important to Paul and Kristen Catania, whether they’re making them to each other, their family and friends, their co-workers or their community.

Now, through a gift of life insurance, the couple is making another commitment—one that will impact generations of children to come—to the organization that holds a special place in their lives: Akron Children’s Foundation.

“Akron Children’s is a special place that we want to see succeed for a very long time,” explained Paul. “We see a gift of life insurance as a great way of showing our commitment to the organization.”

Generational Support Helps Secure Our Future

Paul, who’s currently a member of Akron Children’s Foundation board of directors since 2019, initially joined our Foundation board of directors in 2013. He and Kristen acknowledge that at the time, they knew Akron Children’s was a special place but didn’t fully comprehend the impact of Akron Children’s in our region.

“Akron Children’s reach and impact is just enormous,” said Paul. “It’s truly critical to the fabric of our community.”

Over the years, the couple has contributed to capital campaigns, made annual gifts and supported the hospital at many special events. After sitting down and looking at the ways in which their gifts could go even further, Paul and Kristen realized that giving through life insurance could be a great fit for their family.

They purchased a new life insurance policy and named Akron Children’s Foundation Foundation as the beneficiary. Then, they transferred ownership of their policy to Akron Children’s a short while later. Paul and Kristen continue to pay the annual premiums—but do so by directing them as a gift to the hospital where they receive a charitable income tax deduction.

“This type of strategy is not just for those in their golden years,” explained Paul. “If more folks are willing to consider it, it’s a lifeline to the hospital for the next generation.”

The process was easy thanks to expert guidance from the Akron Children’s Foundation Foundation team as well as their life insurance agent. Now, they’re encouraging others to consider this type of giving.

“Akron Children’s makes this region a better place to live; we have something special,” said Paul. “If you’re proud of it and want to keep it, then you’ve got to take care of it. The only way we can make sure that Akron Children’s is able to deliver on its special promises to families for years to come is through generational support.”

Take the Next Steps

One of the easiest ways to provide for the future of Akron Children’s is by naming us as a beneficiary of your life insurance policy. Contact Jason V. Sanders, JD at 330-543-8343 or plannedgiving@akronchildrens.org to learn more about shaping the future of Akron Children’s through a gift of life insurance.