Graduate donates life insurance benefit to former school

Jun 24, 2011

A military veteran's life insurance policy will help provide students at his former school with an education

A military veteran who passed away in February has made one last contribution to his former school, with a portion of his life insurance benefit being donated to the institution according to a report.

Lance Corporal Joshua Wright graduated from Florida's Haney Technical Center in 2009 and joined the U.S. Marine Corps shortly after, reported The Panama City News Herald. After he passed away in a noncombat situation earlier this year, it was revealed Wright's fiancee set aside $15,000 from his life insurance policy as an endowment for his former school, which would help prospective students attend the school, said the report.

The school honored Wright at its annual graduation ceremony May 12.

"I want this endowment to help people who work hard and have a desire to make something of themselves in honor of Lance Corporal Joshua Wright," his fiancee, Sueann Spratt, told the paper.

The report showed the value a life insurance policy can have for policyholders who wish to make charitable contributions after their death. Many life insurance companies allow certain charities or entities to be listed as a beneficiary on a policy.
 

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