PLANNED GIVING
ANYONE CAN MAKE A DIFFERENCE!

Are we missing the boat, only fishing for wealthy donors? Maybe we need to widen the search to catch all types of fish to satisfy our needs. Let's take a good look at our donor base.

PHILANTHOPY begins in the HEART not the pocket. Therefore, a charitable giving program that encourages and enables ALL to participate is essential. Now more than ever, there is a pressing need for individuals to support their favorite charities. People give because they care. They need to be shown how they can do more and how do it effectively.

Life insurance enables a donor to create a significant new asset for a charity without jeopardizing family assets. Even if financial resources are limited, a substantial bequest can be made through a small contribution. In effect, the gift is made on the installment plan that can be limited to a specified number of years.

The gift of an existing policy is a good tax planning technique for donors who have life insurance coverage greater than their current and future needs. In some cases, the original reason for the insurance no longer exists, such as mortgage protection and short-term loan obligations.

A donor that would like to make a sizable cash gift or a bequest to a charity could magnify the value of that gift through a single premium life insurance policy.

In general, most people have a strong desire to make a difference in this world. Those already making charitable donations will appreciate new ways they can magnify the value of their gifting. While others who intend to leave some or all of their assets to a charity at death, may not be aware of the advantages that a life insurance plan has to offer.

Keep in mind that the use of life insurance for charitable giving is not intended to replace current giving plans. These ideas are intended to augment the donors' regular donations and to induce others to become active givers.

Let's get the word out to our donors that they can make a significant impact today and be remembered long after they are gone because of their charitable gift of life insurance.

By ADO member Robby Morris, Insurance and Personal Planning,
The Morris Group. 914 273-6301 www.RobbyMorris.com; morrisrw@ft.newyorklife.com.