For Donors

Donating to charity in the form of life insurance guarantees a contribution to your charity in the event a donor dies.  Many donors have a vision of what they can do for their charities during their lives.  Many donors make annual donations to charity, but also have a vision of giving gifts to charity out of their estates.

Gifting to charity out of the donor’s estate reduces the value of the estate available for family members and has been the subject many disagreements.  It can further have tax consequences.  Life insurance addresses this issue.

Being covered by our Heritance Life Group “Carry On” coverage addresses at least a portion of a Charitable Giving Plan.  Donors are able to make a final donation to their charity in form of cash, while not diminishing assets available in the estate for family members. This is done on a tax-free basis.  This solution is tax-free from beginning to end.  Neither the premiums nor the benefits are subject to tax.

Our “Carry On” program is a group life insurance program purchased by a charity to cover their “regular and faithful” donors.  The program requires no medical underwriting and it has the typically low premiums associated with traditional group term life and accidental death and dismemberment.  The Charitable Organization is automatically the beneficiary.

The maximum covered amount is $50,000 of basic life insurance, plus an additional $50,000 in accidental death and dismemberment coverage.

The only action you must take in order to participate in this program to approve your participation.  Most states require that you consent to being covered by a policy owned by a non-profit organization.

If your charity has implemented the Carry On program, you will receive a notice that they intend to cover you.  All you need to do is consent, or not opt out, as the case may be.  Your participation will allow your heart’s desire to Carry on…