Charitable Giving With Life Insurance
- 41. The following have named the University as a beneficiary of part of the proceeds of an insurance policy they are carrying with the College Life Insurance Company of America:
- Mr. Robert E. Maloney, Bronx, New York
- Mr. Thomas Robert Moser, San Angelo, Texas
- Mr. Oocar Ashley Reynolds, Jr., Elgln, Texas
- Mr. Charles Theodore Werner, Eden, Texas
- Mr. Tnomas Vance Sneed, Houston, Texas
1955 0629 - The University of Texas, Office of the President, Austin - m30 - p44 - 89p
- OSU / Lincoln National Life / T. Boone Pickens
- wikipedia.org///Gift_of_a_Lifetime
- "To a layperson like myself, it's amazing insurance companies make money on this, too, but they know their business," Reece told The Oklahoman.
- Program canceled & lawsuits
- As of February 2010, OSU and Lincoln National had filed suits against each other.
- The OSU suit claimed Lincoln National's agents lied and misrepresented the plan and its costs.
- Lincoln National's lawsuit was filed against Boone Pickens, claiming he was responsible for urging the OSU to cancel the policies.
- On March 9, 2012, the federal judge overseeing the lawsuit between OSU and Lincoln National sided with Lincoln National in its case with OSU.[7]
- 2007 0326 - LA Times - Now this is taking one for the team, by Greg Johnson - [link]
- The Pickens insurance plan passed muster with Oklahoma state regulators, but Oklahoma State’s Gift of a Lifetime Program is generating controversy.
- U.S. Sen. Charles E. Grassley (R-Iowa), who has been investigating the tax-exempt status of major college athletics programs, last week told Congressional Quarterly that he had questions about the Pickens program.
- wikipedia.org///Gift_of_a_Lifetime