The gift of a life insurance policy now has profound new implications on the future of charitable giving.
LifePoint Charitable Endowment, Inc. has developed the Give Life to Charity™ program to manage tax-deductible donations of life insurance for charities. Life insurance, as an asset class, is a virtually unexplored opportunity for most charities. LifePoint is merely a conduit through which charities gain access to an entirely new, long-term source of revenue. We do this by working with our charity partners to develop donor communications that explain the opportunity to existing senior donors about making a meaningful gift of their existing and unwanted life insurance policies.
This site is designed for managers of charities who want to evaluate and understand how the Give Life to Charity™ program will benefit their organization.
To provide some context, it is important to understand that there is approximately $18 trillion of life insurance in force in the U.S. at any given time. While the majority of people over the age of 65 still own life insurance, escalating policy termination rates for insured's in this age category means that the majority of seniors will terminate their coverage before they die. It is estimated that as much as $300 billion per year in death benefits simply vanishes each year through policy termination, surrender and lapses by seniors.
Charities, facing an ever-increasing problem of finding new donors and new revenue to finance their needs are overlooking a huge revenue opportunity. At LifePoint, we see life insurance owned by senior Americans as the single greatest benevolence opportunity ever. The Give Life to Charity™ program is the only one of its kind and helps charities capture this new revenue source.
Give Life to Charity™ is not about selling new life insurance to donors.
Give Life to Charity™ is not about settling policies in the secondary market.
Give Life to Charity™ is the means by which charities can tap into this enormous pool of unwanted or unneeded life insurance policies owned by millions of older, charitably-minded Americans. Please review this site with the knowledge that we are providing this information about our program and corporate governance to help charity management better understand who we are and how we can help you. Begin with the understanding that the 65+ population in this country is growing three times faster than the general population at large. Literally trillions of dollars of life insurance will be terminated by this segment of our population over the next 30 years.
Now, imagine the impact that just a tiny portion of these death benefits could have on the financial future of your organization.
