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Making Mid-Level Prospects into Major Givers With “Legacy Life Giving”

Tom Ligare and his colleagues at Planned Giving Marketing Solutions, LLC are promoting a gift type that helps build long-term endowment by making it easier for mid-level donors to engage in major giving.

We decided to find out more about it…

PLANNEDGIVING.COM: Tom, what’s the idea behind “Legacy Life Giving”?

TOM LIGARE: Basically, Legacy Life Giving is an alternative to the usual “charitable bequest” type of giving, and what’s more, it gets results by expanding the donor pool you already have.

PG.COM: How does it do that?

TL: Legacy Life Giving enables your mid-level donors, who previously participated only in annual cash giving, to give a larger, more transformative and rewarding planned gift to your institution while enjoying the full range of planned-gift type tax advantages. For donors, it means an annual-giving type commitment that results in planned-gift type benefits and fulfillment.

PG.COM: What are the details?

TL: It’s a simple model. The donor buys a life insurance policy and designates your nonprofit as owner and beneficiary of the policy. The donor can choose among a variety of different policy types and amounts to customize what the donor wants to pay and what the charity will finally receive. For example, premiums can be paid in a lump sum or spread over five years, and there are other payment options.

This is how Legacy Life Giving can be so attractive from the donor’s standpoint as well as from the nonprofit’s revenue standpoint.

PG.COM: Can you give us some numbers?

TL: Sure. Let’s say you have a female donor age 60. She purchases a $50,000 policy and names your charity as owner and beneficiary. Her one-time premium payment of $16,126 results in an eventual payout to you of $50,000. Alternatively, she can choose to make five annual premium payments of $3,495 for the same payout. These numbers will vary a little up or down depending on the donor’s age, of course.

You can see this is an appealing way to make planned giving available to more donors, while maximizing revenues for the nonprofits they support.

PG.COM: How can people find out more about Legacy Life Giving?

TL: Visit our website at www.plannedgivingmarketingsolutions.com

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