Charity Owned Life Insurance
How Life Insurance Protects Charities
Life Insurance allows you to turn pennies into dollars. Many of us have favorite charities. One of my favorites is the Make A Wish Foundation, which provides wishes to terminally ill children. I love how a few dollars can make lasting memories for the children and their families and friends, and also for those who deliver the last wish. Most of us do not have the wherewithal to make significant gifts to our favorite charities, but life insurance allows us to multiply small gifts into major donations for pennies on the dollar.
Charity Owned Life Insurance
Term life insurance, universal life insurance or whole life insurance are several types of policies that can be used to fund your gift to your favorite charity. This is how life insurance protects charities. You can purchase a low cost term life insurance policy with your favorite charity named as beneficiary or you can simply up the protection (face amount of coverage) you are already purchasing for your family or business by a little bit and name your favorite charity as a beneficiary for that portion of the death benefit.
You have the opportunity to leave a legacy that will allow you to touch lives from beyond the grave. I'm convinced that doing so will benefit not only the charity but your loved ones as well as they witness your generosity and caring. Term life insurance, universal life insurance or whole life insurance can allow you the privilege of contributing to those in need as well as providing financial security for your loved ones.
