We all know people purchase life insurance for a lot of reasons and the most common being to take care of their loved ones. Still others might use life insurance to maximize income or to address business concerns.

But on the latest episode of Optimizing Your Financial World, we’re going to examine a purpose for life insurance that many people aren’t aware of: Using life insurance for philanthropic giving so you can leave a charitable legacy.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:40 - Life insurance isn't as vanilla of a financial solution as some may believe

4:20 - Which kind of life insurance policies are pertinent to charitable giving strategies

5:19 - Who would benefit from leveraging life insurance for charitable inclinations

6:54 - How life insurance can be used to fund a charitable organization

8:12 - Giving a charity the life insurance policy itself

10:01 - How dividends come into play

12:10 - These efforts should be considered among other tax planning strategies

13:36 - How you can get in touch with Mark and his team

14:40 - Closing remarks

Connect with Mark Wade:

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