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Our Giving Products

Using Life Insurance For Planned Giving

Life insurance is a great way to leave a legacy for your organization or family. With Life Legacy, we make life insurance simple and easy to understand your options. Our product navigator will ask you a few quick questions to get to know you better. Based on your responses, we’ll help you identify the life insurance product that best matches your needs. 

After selecting the product, you’ll have the ability to complete your application with one of our carefully selected life insurance partners. The process is an accelerated, all-online application that will give you an instant decision in just minutes! 

No more medical exams, blood work, or phone calls. This is your hassle-free way to give, and to give big!

Whole Life Insurance As A Giving Product

Whole life insurance lasts for the rest of your life whereas term insurance only lasts for a specified amount of time. When it comes to giving, whole life is ideal because as long as you pay the affordable monthly premiums, your selected organization will receive the death benefit proceeds when you perish. Keep in mind, whole life typically costs more per month than term insurance, but the gift is guaranteed! 

Your Whole Life Choices At Life Legacy:

Whole Life

The best way to leave the biggest impact! Proceeds must be split between charity and family.

Final Expense

The easiest way to leave an impact! No medical tests and a decision in minutes.

Term: Coverage For 10, 20, And 30 Years

Term life insurance is the most simple and affordable option and it provides coverage for a set duration of time or “term”, which is typically 10, 20, 30 years. 

A healthy 35-year-old female can expect to get a $250,000 20-year term life policy for about $18/month.

Term As A Giving Product And For Your Family

Term life insurance is the most popular type of life insurance because it is low-cost and provides the highest payouts. One thing to keep in mind is that typical term insurance coverage ranges in periods of 10 to 30 years and payouts only apply within the term period. Because of this, it’s not a guarantee that the payout will be used for charitable giving as compared to whole life insurance. However, term life is still a great choice for protecting your family and one of the most common insurance products for this purpose!

Fixed Annuity As A Giving Product

A fixed annuity is a simple product that is great for giving. Unlike life insurance, an annuity requires zero medical questions or medical background. Instead, an applicant completes an easy online form to verify their financial position and how much they’re comfortable depositing into their annuity fund. After they’ve completed the questions, our partnered annuity company will provide a guaranteed fixed rate of return (as high as 3.25% per year!) for your choice of 3, 5, or 7 years. In return, owners get steady, guaranteed growth, then, when they perish, the selected organization gets the entire balance of the annuity. There is even a provision that allows the annuitants to take as much as 10% out of the annuity each year to give a short-term gift. This is perfect for givers who want to make an impact now and later!

Annuity

Don’t want to buy life insurance? This is a simple alternative choice for giving.

Questions? Don’t hesitate to reach out to support@lifelegacy.io. We’re more than happy to help answer any questions you might have about planned giving or our offerings!

Coming Soon!

Be the first to get notified when we go live with our will product.