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3 Ways to Help a Charity With a Gift of Life Insurance

Regardless of your reasons for giving, a gift of life insurance can represent a substantial future gift to a favorite charity at relatively little cost to you. There are several ways you can accomplish that:

1. Make a charity the beneficiary of an existing policy: If you have a life insurance policy you no longer need to support your partner or family, you can name a charity as the beneficiary of the policy, meaning that the charity will receive the policy’s death benefit when you die. While there are no current tax benefits to this approach, the value of the policy will be removed from your estate for federal estate tax purposes.

Think You Can’t Get Life Insurance if You’ve Had Breast Cancer? Think Again!

You may think that because you’ve had breast cancer, you won’t be able to get affordable life insurance. That’s just not true! Many breast cancer survivors can qualify for coverage and probably a lot sooner than they think.

Because of advances in treatment, many life insurance companies have changed their coverage guidelines (aka underwriting). That means agents across the nation are able to help their clients with a breast cancer history get affordable life insurance.

Insuring the Times of Your Life

If you have people you love and who depend on you, or you have financial obligations to meet, you need life insurance to protect against the “what ifs”—at every stage in life.

Single: You may think you don’t need life insurance, since you have no dependents, but if you owe money, you need it. It ensures that your debts, including student loans, won’t be passed on to your family. Plus, life insurance will never be cheaper than when you’re young and healthy.

Married: As you begin your lives together

No One Is Promised a Tomorrow

Losing a child leaves a hole in your heart that can never be filled.

My daughter, Summer, was everything you could want in a daughter—laid back, fun and very smart. I was so proud of what she was accomplishing on her own at just 22. She was working full time as a waitress and going to school full time studying premed.

She was also expecting her first child, and was smart enough to realize that she needed life insurance summer and nathanto protect her family-to-be.

Completely, Totally Not Enough Life Insurance

Before I passed any judgment, I wanted to hear more about his rationale as to why he only had the $10,000. He said that he figured the $10,000 would be enough to bury him so that his kids wouldn’t have to worry about paying for a funeral.

That’s fair, but what about your house? What about your kids’ college? What about your wife trying to take care of raising your young kids? Don’t you think that losing your income would have an impact on her and how she would raise your children? I tried to press that a little bit, but not to the point of making him feel that he was stupid. Truth be told, I kind of thought he was, but I still like him.

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