Life Insurance Donation

Charitable Giving/Donations using Life Insurance

 provides immediate or deferred cash for the nonprofit.


Charitable giving using a life insurance policy is not a new idea.  Many donors have chosen to transfer some or all of their wealth to a charity so it can do its great work.  In many cases the nonprofit (501c3) organization can usually leverage the donation by attracting additional donors and/or purchasing discounted products and/or services for the clients which it serves.  Senior Citizens, Children, The Poor and Needy and Veterans.  Although Strategic Business Institute receives hospital beds, wheelchairs and more as donations, they almost always run out of supplies and need to purchase more to try to fill the community need.

Donating one or more of your old life insurance policies to Strategic Business Institute will help us fulfill our growing requests for food, books, clothing, technology equipment, durable medical equipment and more.  The steps are easy.

How it works
(Term Insurance, Whole Life, Universal Life, Single Premium Life Insurance)

The donor can purchase an irrevocable life insurance policy making Strategic Business Institute the beneficiary.
The donor can purchase a life insurance policy on anyone (who has an insurable interest) and make Strategic Business Institute the owner.  At the insureds death, the proceeds will be transferred to Strategic Business Institute for its great work.
The donor can transfer the future proceeds to Strategic Business Institute, by requesting a beneficiary change form and completing it with the name of Strategic Business Institute as the new beneficiary.
The donor can allocate annual premium payments from an annuity, IRA, 401k, savings account, Certificate of Deposit, from a retirement plan or from other cash flow or business cash flow.  Payments/Deposits/Allotments to the insurance company can be made annually, semi-annually, monthly or by direct withdrawal from a savings account a personal or business checking account.

Because Strategic Business Institute is a qualified 501c3 nonprofit organization the premium payments/deposits/allotments will be TAX DEDUCTIBLE to the donor in the year of the donation.  If the donor wishes Strategic Business Institute to have access to the donation or some portion of the donation immediately, they can name Strategic Business Institute as the owner of the Life Insurance Policy.  Then Strategic Business Institute can make policy loans against the policy (if needed) to use the accumulating funds to be used like a bank account or line of credit.

Disclaimer:
The information published on this web site is not intended to be a recommendation to purchase a Life Insurance Policy.  It is intended for informational purposes only.  You are strongly urged to consult with a financial planner who specializes in the area of charitable gifting to determine if a charitable gift of a Life Insurance Policy is suitable for your wealth transfer plan.

Strategic Business Institute (SBI) is a Nonprofit Corporation– 501c3 charity

CH18270 • A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE
(800-435-7352) WITHIN THE STATE.  REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE.