Re: Fw: Les Wexner's gifted life insur policy has lapsed: who should contact his office re situation?

Soll, Bruce

--- "Soll, Bruce" BSoll@Limitedbrands.com wrote:

Hi. Who do you want me to refer Schroeder to? He is
the head of development
for osu. Thanks.

-----Original Message-----
From: Schroeder, James schroeder.346@osu.edu
To: Soll, Bruce BSoll@Limitedbrands.com
Sent: Fri Dec 23 09:07:43 2005
Subject: FW: Les Wexner's gifted life insur policy
has lapsed: who should
contact his office re situation?
Bruce,

I am very sorry to bother you over the holidays and
even more
reluctant to raise this question with you but
perhaps you can tell me with
whom we should talk. Below is a message from our
University Development
planned giving office regarding a long standing life
insurance policy from
Les. It is a loose end for us and a very minor
matter for Les, I am sure.
We are fine cashing in the policy and crediting it
as a gift but do not want
to take that step if Les would prefer to keep it
current.
What think ye?  In the meantime best wishes for the
holidays and for
a happy and healthy 2006.
Jim.
-----Original Message-----
From: Maish, Eugenia
Sent: Tuesday, November 01, 2005 11:48 AM
To: Schroeder, James; Smith, Sheila
Cc: Lorenz, Joan
Subject: Les Wexner's gifted life insur policy has
lapsed: who should
contact his office re situation?
Importance: High

To: Jim Schroeder, VP/Development & Sheila Smith,
Assoc VP/Development
CC: Joan Lorenz, Dev't VP's Office

RE: Life insurance donor, Les Wexner (00044760) re
gifted Lincoln National
Life Insurance Policy #642555672

Hello, Jim and Sheila. As you'll both likely
remember, last month, Planned
Giving sent two notices of semi-annual premium
payment due to Mr. Les
Wexner's office re the $15,000 life insurance
policy he gifted to the
University in 1964. We sent these to his office
regular mail (not via
certified mail), which is the address of record
for sending premium
notices on this planned gift.

It appears, however, that Mr. Wexner's office did
not pay the $143.64
semi-annual premium due yet, per my call to the
insurance company, for
today, Planned Giving received from the insurance
company the attached
notice that the policy had lapsed. However, the
the policy would remain in
effect until December 14, 2019, as the insurance
company would simply use
the $9,290.85 cash value of the policy to pay the
annual $287.28 premiums
until 2019. After Dec. 14, 2019, there would not
be enough cash in the
policy to continute paying premiums. (Mr. Wexner
will be 82 years old in
the year 2019.)

I called the insurance company to confirm this
information. The customer
service rep indicated that all OSU would need to
do to have the policy
reinstated to good standing is have Mr. Wexner (or
Ohio State) pay the
$143.64 semi-annual premium that was due on
September 30, 2005.

How do you both recommend handling this? Who
should contact Mr. Wexner's
office regarding this situation? (note, I'm
probably going on maternity
leave next week, so if you'd like me to call his
assistant, I will likely
do it this week. I remember from a Big Brother/Big
Sisters annual luncheon
I attended three years ago, that Mr. Wexner has an
assistant who primarily
handles his charitable giving issues. I sat next
to this gentleman, but
can't remember his name, unfortunately)

Please advise.

Thanks,
Eugenia

Notes to file: Policy has a cash surrender value
of $9,290.85. Mr.
Wexner's date of birth is 9/5/1937 (68 yrs)

Eugenia Maish
Planned Giving Officer
The Ohio State University
2400 Olentangy River Road, Room 401
Columbus, Ohio 43210
Phone: 614-247-7110
Fax: 614-688-3503
Email: maish.1@osu.edu OR
maish@ud.ohio-state.edu

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Soll, Bruce

peggy ,, how much is the face of the policy

--- "Soll, Bruce" BSoll@Limitedbrands.com wrote:

Hi. Who do you want me to refer Schroeder to? He is
the head of development
for osu. Thanks.

-----Original Message-----
From: Schroeder, James schroeder.346@osu.edu
To: Soll, Bruce BSoll@Limitedbrands.com
Sent: Fri Dec 23 09:07:43 2005
Subject: FW: Les Wexner's gifted life insur policy
has lapsed: who should
contact his office re situation?
Bruce,

I am very sorry to bother you over the holidays and
even more
reluctant to raise this question with you but
perhaps you can tell me with
whom we should talk. Below is a message from our
University Development
planned giving office regarding a long standing life
insurance policy from
Les. It is a loose end for us and a very minor
matter for Les, I am sure.
We are fine cashing in the policy and crediting it
as a gift but do not want
to take that step if Les would prefer to keep it
current.
What think ye?  In the meantime best wishes for the
holidays and for
a happy and healthy 2006.
Jim.
-----Original Message-----
From: Maish, Eugenia
Sent: Tuesday, November 01, 2005 11:48 AM
To: Schroeder, James; Smith, Sheila
Cc: Lorenz, Joan
Subject: Les Wexner's gifted life insur policy has
lapsed: who should
contact his office re situation?
Importance: High

To: Jim Schroeder, VP/Development & Sheila Smith,
Assoc VP/Development
CC: Joan Lorenz, Dev't VP's Office

RE: Life insurance donor, Les Wexner (00044760) re
gifted Lincoln National
Life Insurance Policy #642555672

Hello, Jim and Sheila. As you'll both likely
remember, last month, Planned
Giving sent two notices of semi-annual premium
payment due to Mr. Les
Wexner's office re the $15,000 life insurance
policy he gifted to the
University in 1964. We sent these to his office
regular mail (not via
certified mail), which is the address of record
for sending premium
notices on this planned gift.

It appears, however, that Mr. Wexner's office did
not pay the $143.64
semi-annual premium due yet, per my call to the
insurance company, for
today, Planned Giving received from the insurance
company the attached
notice that the policy had lapsed. However, the
the policy would remain in
effect until December 14, 2019, as the insurance
company would simply use
the $9,290.85 cash value of the policy to pay the
annual $287.28 premiums
until 2019. After Dec. 14, 2019, there would not
be enough cash in the
policy to continute paying premiums. (Mr. Wexner
will be 82 years old in
the year 2019.)

I called the insurance company to confirm this
information. The customer
service rep indicated that all OSU would need to
do to have the policy
reinstated to good standing is have Mr. Wexner (or
Ohio State) pay the
$143.64 semi-annual premium that was due on
September 30, 2005.

How do you both recommend handling this? Who
should contact Mr. Wexner's
office regarding this situation? (note, I'm
probably going on maternity
leave next week, so if you'd like me to call his
assistant, I will likely
do it this week. I remember from a Big Brother/Big
Sisters annual luncheon
I attended three years ago, that Mr. Wexner has an
assistant who primarily
handles his charitable giving issues. I sat next
to this gentleman, but
can't remember his name, unfortunately)

Please advise.

Thanks,
Eugenia

Notes to file: Policy has a cash surrender value
of $9,290.85. Mr.
Wexner's date of birth is 9/5/1937 (68 yrs)

Eugenia Maish
Planned Giving Officer
The Ohio State University
2400 Olentangy River Road, Room 401
Columbus, Ohio 43210
Phone: 614-247-7110
Fax: 614-688-3503
Email: maish.1@osu.edu OR
maish@ud.ohio-state.edu

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