Life Insurance as a Tool to provide a Charitable Gift
Why life insurance is the perfect tool to create a charitable gift
Permanent life insurance is a unique insurance product because every day a policy owner owns it, the policies value increases. Permanent life insurance is an asset and allows
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charitably inclined individuals to leverage their income and assets to create a larger guaranteed lump sum of money to any charitable causes that they believe in regardless of how long they live. It doesn’t matter if you want to give $10,000, $100,000 or $100,000,000, life insurance may be the solution for you to accomplish more with your charitable giving strategy.
Charitable giving with life insurance and comprehensive financial plan
As part of a comprehensive plan, life insurance can be used as a tool to create money that can be given directly to a charity or even possibly be used to help create a your own foundation. Structing a life insurance policy along with various trusts and other tax and estate planning considerations can allow a philanthropist to increase the amount of money they have to spend during their lifetime, increase the amount of money they keep in the family while also providing more money to their cause than they may have realized was possible.
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The Decision to make a charitable gift is a long-term commitment that requires careful planning but should also have the flexibility to change if circumstances change. Decision Tree Financials insurance advisors works with as a team with other tax and legal advisors to structure the right charitable giving plan to accomplish your goals.