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When you meet with a prospective donor, asking about their life insurance policy (or policies) is well worth your while. But how should you ask them and what, specifically, are the questions you should ask?
By understanding the benefits of gifting different asset types, you can provide true value and become a differentiator for your donors. And the value you add may well result in a gift larger than the donor thought possible.
Yuan is a career librarian, now retired. She has always worked hard and lived simply, and has savings of nearly $100,000 as a result. But Yuan has suffered numerous health issues in recent years.
Russell and Kathryn are 60 and 59 years old, respectively, and have no children. Russell is a doctor, and Kathryn does not work outside of the home. They are deeply committed to their favorite charity and would like to make a significant gift.
One common misconception is that only rarely will a life insurance policy make a gift that's beneficial to both you and the donor. In fact, there are three different scenarios in which a permanent policy can make an advantageous gift to your organization: