FAQ

Life Legacy was created to help more people leave planned gifts to the charities they love. This is accomplished by using the power of life insurance, annuities, wills, and crypto donations to promote social good. Life Legacy works directly with givers and also helps charities promote planned gifts on their websites. You don’t need to be a multi-millionaire to leave a positive imprint. Instead, you can leave a lasting legacy in a financially affordable and simplified manner through our legacy giving products.

Did you know that over 80% of planned gifts are left through bequests? They  by far and large account for the most planned gifts left to non profits. By making it easier than ever for your supporters to leave these gifts you can cultivate relationships and grow major gifts while expanding your planned giving options.

It’s now easier than ever before, in our online will you can pick an exchange that you keep your crypto on, leave a beneficiary and you’re finished. If something were to happen to you, all your loved one would have to do is go to the exchange with your will in hand.

Without a will it would be difficult if not impossible for an exchange to find out who is the rightful beneficiary. Millions of dollars worth of crypto has been left in exchanges when people pass away, with no will or intention left for these assets they go unclaimed.

Life insurance is an excellent, affordable way to affordably leave a large lasting legacy. If you are a current donor to a charity or religious organization, and can afford to spend a little more each month in the form of a life insurance premium payment, you can significantly increase your impact through the power of life insurance.  For example, for about $75 a month, a 50 year old can use a whole life policy to leave a $50,000 tax free gift upon their death. For a 40 year old, that commitment is about $60 a month (subject health and lifestyle).

Apply right here on the Life Legacy website. Our fast screening process takes a matter of minutes! No hassle, no headaches, no-nonsense. At the end of the quick process, we will make recommendations that match your profile. From there, we link you right to an online application on our life insurer partner’s website. The whole process takes about 20 minutes. You can also call the insurer’s contact center and complete the application with the help of a friendly, licensed agent. To expedite your application, have the following information handy:

• Height and weight

• Driver license information

• Social security number

• Personal and family medical history

• Current prescription information

  All of the information that you provide is protected with the highest privacy standards. If you have questions, reach out to our team at support@lifelegacy.io

A death benefit is also referred to as the policy proceeds. It’s the amount of money that an insurer pays to your beneficiary(ies) when you pass away. With term insurance, a death benefit is paid if you pass away during the policy term. With your whole life policy, as long as your premiums are paid, a death benefit will be paid. Typically, the policy proceeds are paid in a single lump sum. In most cases, the death benefit is not taxed to the people or organizations receiving it.

An annuity is a great alternative to life insurance for people who have assets that they will not need in retirement. Life Legacy has partnered with a life insurance company that has a very unique and competitive annuity called a Multi-Year Guarantee fixed annuity or MYGA. MYGAs are great investments because they have a guaranteed minimum rate of return. That means you can be sure that your money will grow over time. Fixed annuity interest rates are quite high, too. They’re usually much higher than other low-risk investment options like CDs. A MYGA is a great vehicle for charitable giving:

• The rate of return is guaranteed, so when you name a charity or alumni association as a beneficiary, they are guaranteed to receive not only your initial deposit, but the guaranteed gains as well.
• The MYGA that is available through Life Legacy also allows you to withdraw up to 10% of the value every year without any surrender penalties. This means that not only will your selected charity receive the value of the annuity when you die, but you can also make donations every year using the 10% withdrawal feature.  Your charity receives money now and later!

Notarizing a will might make it harder for someone to contest it. In order for a will to be valid, it must be signed by the testator and witnessed (typically by two other people who also provide their signatures). As long as you follow the witnessing requirements set by your state, the will is considered a valid legal document. Once you pass away, the will needs to be verified, or proven, in court in a process known as probate. If you took the time and had the foresight to get the will notarized when you wrote it, it should expedite the process of distributing your assets. Otherwise, the court can delay the time it takes for any beneficiaries to receive assets designated for them in the will.

Decide where the original (perhaps notarized) Will is to be kept and inform the executor of the location. Generally, storage in a fireproof box or some other safe location should be sufficient. Be sure to let the executor and any alternates know the location of the Will. Remember that, should you desire to change your Will in the future, a formal Codicil or new Will will have to be executed. You should not write on or otherwise attempt to revise the Will. Remember: Periodically review changes in your life and consider whether you should change your Will.

Life Legacy was created to help organizations drive more planned gifts from core middle and upper middle-income donors. This is accomplished by using the power of life insurance, annuities, wills and a simple donor tracking platform to promote social good. Your core donors do not need to be multi-millionaires to leave a positive imprint. Instead, they can leave a lasting legacy in a financially affordable and simplified manner through our legacy giving products.

Life Legacy has partnered with life insurance and annuity companies that are financially strong, have online and phone application platforms and allow the donor to identify your organization as the beneficiary of the policy. Life Legacy works with you to place a customized activation link on the planned giving page of your website. We provide the custom link, copy, and content, including explainer videos, to support the product offering. Life Legacy has partnered with a company that offers an online fixed annuity that features very competitive fixed rates.