CHARITABLE GIVING PROGRAM
Christians support special Charitable organizations because of their personal concerns. Given the opportunity, most Christians would provide even more financial support to aid their own church. Most also know that when death occurs, their support suddenly stops and the endurance of that Charitable organization is weakened.
Many church, religious and charitable organizations have at times created ‘endowment funds’ in response to this occurrence. The flexibility of an endowment permits the organization to maintain financial security while focusing on its important mission.
A growing number of religious institutions include life insurance policies as a component of their overall endowment development programs. The combination of competitive rates of return and administrative flexibility make life insurance a valuable charitable giving tool.
A life insurance policy can transfer a small giver into a substantial donor. Life insurance also can serve as a great replacement vehicle for your heirs if you gift other assets to the charity.
How Program Works
Members of your church are presented with the opportunity through a ‘Seminar’. General information is shared with the Members outlining the Program.
Individuals that are serious about being involved, are counseled as to the Life Insurance Programs available and the amount of ‘donation’ required to fund the Program.
Each member applies for their Program. The charity (church) is made the owner and the beneficiary of the Policy.
Once the Policy is approved, the Policy is sent to the charity (church). The charity (church) will receive a ‘list bill’ each month for the members that are participating in the Program.
Each member will ‘donate’ the specific amount required to fund their gift. Their check will be made out to the charity (church), thus giving a ‘tax deductible’ status.
The charity(church) will forward the ‘list bill’ amount to the Insurance provider to keep each Policy in force.
The charity(church) will be the owner of each Policy and have access to any and all cash value of the Policy in the event the member fails to make the required donation to the Program.
How Your Church Benefits
- Amount of gift is certain
- Assured source of future income
- Total control of Program since charity owns the Policy
- Money for robes, bibles, new additions to the building, etc.
How You Member Benefits
- A major gift can be given for a few dollars a year.
- Good people of modest means can receive the satisfaction and recognition normally reserved for the wealthy.
- With the charity both the policyholder and beneficiary of the policy, the Member’s monthly contribution to fund the Program is a tax deductible gift.
- The Member’s gift is self executing and proceeds are paid promptly
Charitable Giving Your Legacy of Love
When your commitment of support leads you to establish a charitable gift for the endurance of your organization, you are establishing a ‘Legacy of Love’..