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Here is a terrific way to measure the cost of funding a gift of life insurance to a qualified charitable organization: Divide the face amount of the policy into the after tax cost of the deductible cumulative premiums. When you do this, the awesome leverage of the charitable gift becomes readily apparent.
Steve Savant and Don Prehn do their usual terrific job of examining this concept in their video below entitled “Dollars to Charity for Pennies of Cost” featuring an indexed universal life insurance policy. The cost of the gift comes in at 5 cents for each $1.00 delivered to the charity.
If you’d like more detail on Art and Janie’s plan, see my Blog #54: Dollars to Charity for Pennies of Cost. It includes a look at the actual illustration.
Conclusion
The discounted dollars approach can be a very effective way to demonstrate the efficiency of charitable giving. When coupled with life insurance, it can really become dramatic.
InsMark’s Digital Workbook Files
If you would like some help creating customized versions of the presentations in this Blog for your clients, watch the video below on how to download and use InsMark’s Digital Workbook Files.
New Zip File Downloaders
Watch the video.
Experienced Zip File Downloaders Download the zip file, open it, and double click the Workbook file name to open it in your InsMark System.
Note: If you are viewing this on a cell phone or tablet, the downloaded Workbook file won’t launch in your InsMark System. Please forward the Workbook where you can launch it on your PC where your InsMark System(s) are installed. |
Licensing
To license the InsMark Illustration System, contact Julie Nayeri at julien@insmark.com or 888-InsMark (467-6275), or you can click here to order it at the InsMark website. Institutional inquiries should be directed to David Grant, Senior Vice President — Sales, at dag@insmark.com or 925-543-0513.
InsMark’s Referral Resources
(Put our Illustration Experts to Work for Your Practice)
We created Referral Resources to deliver a “do-it-for-me” illustration service in a way that makes sense for your practice. You can utilize your choice of insurance company, there is no commission split, and you don’t have to change any current relationships. They are very familiar with running InsMark software.
Please mention my name when you talk to a Referral Resource as they have promised to take special care of my readers. My only request is this: if a Referral Resource helps you get the sale, place at least that case through them; otherwise, you will be taking unfair advantage of their generous offer to InsMark licensees.
Save time and get results with any InsMark illustration. Contact:
- Ben Nevejans, President of LifePro Financial Services in San Diego, CA.
Joint Interviews
If you want or need help from a qualified producer for joint interviews with any InsMark illustration and are willing to share the case, email us at bob@robert-b-ritter-jr.com, and we will provide you with recommendations.
Testimonials
"InsMark is the Picasso of the financial services world — their marketing savvy never fails to amaze me."
Doug Peete, Past President – Top of the Table, InsMark Silver Power Producer®, Overland Park, KS
"I use InsMark software products because the concepts are cutting edge, well documented and supported, and user-friendly for both my clients and myself."
Wayne Weaver, Clearwater, FL
“Bob Ritter is a master of illustrating complex issues in a simple easy to use manner that definitely helps you better serve your clients.”
Gary Curry, President and CEO, ORBA Financial Management, InsMark Platinum Power Producer®, Gold River, CA
More Recent Blogs:
Blog #72: The Discounted Dollars Strategy (Part 1 of 2)
Blog #71: When Life Insurance Doesn’t Work — or Does It?
Blog #70: What Exactly is CheckMate® Logic?
Blog #69: Seven Variations of a Great Executive Benefit
(including my favorite)
Blog #68: A Pretend 401(k) Plan vs.
Indexed Universal Life
3 Reasons Why It’s Profitable For You To Share These |
Blog Posts With Your Business Associates and |
Professional Study Groups (i.e. “LinkedIn”) |
Robert B. Ritter, Jr. Blog Archive