One of the ways people can begin their charitable planningis to talk to a financial advisor about creating a life insurance policy thatpays a charitable organization after the policy holder’s death. The bequest ofa life insurance policy and premium gifts is a substantial contribution tocharity. People interested in creating long-term solutions for charities cancreate a foundation. In order to create the funds the policyholder will providefunding to pay a life insurance premium. When the policyholder dies, theproceeds will be paid out annually to the charitable fund that was created.
See Restricted Fund Fights Illiteracy, Charitable Planning, Aug. 29 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
