Credit Unions Adding Free Financial Education Tools to Attract Members
Buying life insurance for the benefit of people and causes is gaining traction.
Buying life insurance for the benefit of people and causes is gaining traction.
If we truly want to promote financial products to everyone, it’s time to remove the name estate from the term “estate planning.”
Buying life insurance for the benefit of people and causes is gaining traction.
Warren Buffet once said that “Someone is sitting in the shade today because someone else planted a tree long ago.”
In difficult economic times, nonprofits should reevaluate their strategy to focus on receiving gift commitments that will not have a significant impact on the donor’s current financial profile. Rockefeller Philanthropy Advisors suggest that donors reevaluate giving strategies when the economy is in disarray. But these three principles can also be utilized by philanthropic organizations themselves:
Core Principles
“There are three core principles to keep in mind when adapting philanthropy to current challenges: review, recalibrate and recommit. Review asks you to consider whether the values that inform your giving are still appropriate and inspiring. Recalibrate calls for you to assess whether, after a fresh look at your motivations, your goals and giving vehicles need to change. Recommit requires that you look at whether and how you will adjust your giving strategy so that you’ll be better positioned to support the causes you care about over the long term. Considered carefully, this framework can help you take stock of where you are, make potential adjustments that reflect how the world is shifting, and align your resources to fully address the issues that mean the most to you.”
So, as senior philanthropic planners contemplate the value of reviewing, recalibrating and recommitting time, programs and resources, they may want to adapt their outreach strategy to reflect the current challenging fiscal environment. The way forward could focus on promoting long term gifts that have little or no effect on the givers current financial situation.
Planned Giving Tools
Last Will & Testament and associated end of life documents – Only 42% of Americans have a last will & testament in place. Nonprofits can provide this service via a link right on your website. But first, similar to life insurance, you should ask first if donors can commit a portion of an existing will (if one exists) to your organization. But you should also provide access to a basic, legally-vetted version of a digital will, advance health directive and financial power of attorney right from the planned giving section of your website. LifeLegacy’s version of these products automatically asks the donor if they would like to leave a portion of their assets to your organization. You just pay an annual fee to host the will on your site. The LifeLegacy digital will subscription cost is thousands of dollars less than other online wills platforms.
Life Insurance – Promoting the value of life insurance as a gift has two components.
Difficult economic times can have a detrimental impact on short term giving. That’s why having long term tools in place, like life insurance and digital wills, can help offset any reduction in current income. Help donors “plant trees” today that will help shade your organization from difficult economic times in the future. LifeLegacy can help you achieve this goal. Contact us today at jordan@lifelegacy.io.
Get started with your legacy or learn more about our solutions for nonprofits below.
Buying life insurance for the benefit of people and causes is gaining traction.
If we truly want to promote financial products to everyone, it’s time to remove the name estate from the term “estate planning.”
Buying life insurance for the benefit of people and causes is gaining traction.
LifeLegacy (Life Legacy Technologies, Inc) is not a law firm and only provides “self-help” informational and educational forms distributed on an as-is basis for common estate planning needs. The provided forms are not substitutes for legal forms prepared by attorneys or estate planning professionals. LifeLegacy’s self-help documents are not legal advice and are not guaranteed to be correct, complete, free of omissions, or up-to-date. Our services are not substitutes for the advice of an attorney and if you need legal advice for your specific matter, or if your matter is too complex to be addressed by our tools, you should consult a licensed attorney in your area. At no time is an attorney-client relationship or any other special relationship created between you and LifeLegacy or any person associated with LifeLegacy, and any information you provide us is not protected by attorney-client privilege or as work product. You are and will be representing yourself in any matter you undertake using LifeLegacy’s services and documents. LifeLegacy does not endorse any content provided by any linked sites, nor does it assume any responsibility for the interpretation or application of any information originating from such content. Any insurance policy premium quotes or ranges displayed are non-binding. The final insurance policy premium for any policy is determined by the underwriting insurance company following application. Please see the Terms of Service for more information regarding insurance and annuity partners. Use of LifeLegacy’s services is subject to the Terms of Use & Privacy Notice.
Be the first to get notified when we go live with our will product.