Creating a Charitable Legacy With Whole Life Insurance
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High cash value whole life insurance is the foundation for any financial plan. Whole life is a tool for financial abundance that is working financial miracles for families and small business owners every day.
Whole Life
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Millions of Americans make donations of cash and property to the charities of their choice each year. However, many donors are left wishing that they could do more for the charities they love and support.
Medical Research Animals
Local Community Global Causes
Whole life insurance is a very effective way to leave a meaningful legacy, and that’s where we come in.
We’ll help you imagine your legacy, then make sure it’s structured exactly to your vision.
Creating a charitable legacy is an act of thoughtfulness, caring, and generosity. Generosity leads to true inner happiness.
With whole life insurance you don’t need to be very wealthy to leave large amounts to your favorite charities.
Because of the long-term power of compounding - even a small dollar amount in a whole life insurance policy today will create a large and meaningful charitable gift after your death.
If you already have a charitable trust (or a DAF) in place, you can name the trust as the beneficiary of your whole life policy. But the simplest way is to name the charity(ies) as the direct beneficiary(ies) of your policy.
Rather than donating a large sum of money today: Invest a portion of that money into a whole life policy. Fund the policy for as many (or as few) years as you like, and simply let the money grow and compound throughout your lifetime. Because of compounding, the result is a very large death benefit paid to the charity upon your death.
There are many reasons to use a whole life insurance policy to leave a charitable legacy.
Blend Family and Charity as Beneficiaries
One policy can serve double duty - leaving a percentage of the death benefit to your family members, and a percentage to your favorite charity(ies).
Change Beneficiaries at Any Time
You can add, remove, or change the percentages for your beneficiaries any time throughout your life. So if things change, you have the flexibility to change with them.
Access the Cash Value Throughout Your Life (“Living Benefits”)
While it’s your intention to donate all the money to charity, it’s nice to know that you have access to that money, God forbid in case of a personal or medical emergency.
Money in a whole life policy compounds every year throughout your life. This makes it far more valuable in the future, than making a simple cash donation today.
All the growth inside the policy is tax-free, and of course when you die - the death benefit is paid to your beneficiaries tax-free.
