Use Life Insurance to Make a Charitable Donation with Lasting Benefits
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I have always been a fan of using life insurance as a way to make a charitable donation. It provides benefits to the organization you are supporting in both the near and short term. Once it is set up, administration is easy for you and the organization.
Life insurance would probably be used more often for this purpose if it was easier to understand. There are variations, but probably the most straightforward is to purchase a life insurance policy from an agent. A type of life insurance called whole life insurance must be used for this purpose. Term life insurance is ideal for other situations, but doesn
