There are many reasons one would choose to give this way. A gift of a paid-up policy can provide tremendous benefits to the institution, be it a church, university or other not-for-profit.

Typical donors have outgrown the need for insurance protection, have paid the policy for several years, want to ensure the completion of a significant gift and use this gift of life insurance as part of a comprehensive financial plan.

“Before you consider donating your life insurance, be sure to confirm the donation is even possible,” said Mark Lublin of Life Insurance 2.0. “First, you should ensure that the organization is a bona fide nonprofit—that it’s a 501(c)(3) organization. Ask for certification.”

Then ask someone at the organization if they will accept the life insurance as a gift. Some charities find insurance policies are more trouble than they’re worth. So double-check.

It is possible to receive a tax deduction from the gift, but the receiving non-profit has to be both the owner and the beneficiary of the life insurance policy. The Internal Revenue Service will not allow you to subtract the cash value of your policy from your taxes if you name the charity as the beneficiary but not the owner.

Third, decide whether you want to donate a term or whole life policy. Term life insurance policies do not cost as much, but they are also less enticing to charities because when the term expires on them, they are essentially useless. Whole life policies cost more, but they have a cash value that builds up the longer that premiums are being paid on them.

“There are plenty of advantages of naming a charity as the owner, beneficiary, and premium payer of a life insurance policy,” Lublin said.

It is important to mention that for a tax deduction you may not ultimately be able to claim the entire market value of a life insurance policy given to a non-profit. In fact, it is only meant to be understood as a starting point.

Lesley Reuben writes for Life Insurance 2.0. To learn more or to compare
life insurance quotes, compare term life insurance, or get an instant life
insurance quote, visit http://www.lifeinsurance20.com

According to recent survey by Life Insurance Market Research Association, an insurance industry think-tank and research group, 30 percent of U.S. households don’t have coverage, compared with 22 percent just six years ago. Even more alarming is that among the households that don’t have coverage, 11 million are families with children under the age of 18.

“Despite today’s economic challenges, it is important that families think about the fact that forgoing life insurance can be a dangerous decision,” said Mark Lublin of Life Insurance 2.0. “Life insurance can bring much-needed peace of mind.”

Many surveyed by LIMRA said they felt that the life insurance coverage offered through their employer is enough to meet their needs. Yet in the past year, someone became unemployed in 15 percent of all U.S. households.

There are several reasons for the upswing in the number of people living without life insurance. However, LIMRA found that the drop in life insurance ownership is not because families feel safe. Among households with children under 18, four in 10 say they would have immediate trouble meeting everyday living expenses if the primary breadwinner died today.

Obviously, the economy and stricter household budgets have contributed to their risky decisions to forgo life insurance. These consumers may not be aware that life insurance products are cheaper than ever.

The cost of term life policies, which provide coverage for a specific period, have dropped because people are living longer and insurers are using technology to lower their administrative costs.

A new poll of 30 leading life insurance companies conducted by Life Quotes, Inc., has found that life insurance rates remain at all-time lows.

“With life insurance rates at such favorable levels, now is actually a great time to purchase a policy,” Lublin said.

Lesley Reuben writes for Life Insurance 2.0. To learn more or to compare
life insurance quotes, compare term life insurance, or get an instant life
insurance quote, visit http://www.lifeinsurance20.com

In what is considered to be a very innovative move, Life Insurance 2.0 has hit the Internet with a very different way to do the business of buying life insurance. “We have taken the concept of buying life insurance as being a pain and turned it into something very creative and interactive,” said Mark Lublin, President of Life Insurance 2.0. Lublin isn’t kidding. The Life Insurance 2.0 website is one of the first to offer consumers “everything from soup to nuts,” and then some.

Life Insurance 2.0 not only offers convenience, but also the ability for people to compare life insurance companies, financial ratings, products and pricing for virtually all life insurance companies in one location on the site. “The site is comprehensive and robust offering complete transparency, plus offering all the quotes anyone could need all in one location,” added Lublin. This is something the Internet has never seen before – a complete quoting engine that offers quotes for virtually all insurance companies in the marketplace. Lublin acts as the broker for online life insurance. Think about that for a minute –quotes from virtually all insurance companies online. “There won’t be anything missed when a customer wants to buy life insurance on the Life Insurance 2.0 site,” Lublin pointed out.

There is no sales pitch to be seen on this site, no pushy insurance salesmen and no biased recommendations. What visitors to Life Insurance 2.0 see online is what a consumer gets in the final analysis – simple, straightforward, honest, complete and clear quotes for every company. This is a new way to purchase life insurance, and one that allows people to make a truly informed decision about what type of life insurance will suit them.

“People still have the option to talk with the broker; we actually recommend having that brief conversation to be sure all bases are covered,” said Lublin, “People can call in or e-mail at anytime and a licensed representative will be available to discuss any questions or issues they may have about the various options they are considering.”

“On Life Insurance 2.0 people can even find the financial ratings of an insurance company, something that indicates the stability of the company and their ability to pay out on a claim. Only deal with highly rated and stable insurance companies,” commented Lublin.

The days of working with the typical life insurance salesman are coming to an end. Life Insurance 2.0 offers expert level service and support online, and is run by a knowledgeable and experienced broker who understands companies, products, pricing and the marketplace he represents. “Our website is pro-consumer and offers complete services for the intelligent buyer. Our list of products is comprehensive and people don’t just “shop” onsite, they actually have the ability to “buy” online as well,” explained Mark Lublin, President of Life Insurance 2.0.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

It’s not hard to find the ratings of a life insurance company; just look them up on the Internet. “Ratings will give an indication of the company’s ability to pay claims in the event of an actual loss. Those ratings reveal the financial viability of the company and give you a good idea of how reliable the company would be during any transactions” said Mark Lublin, President of Life Insurance 2.0.

There are three main rating agencies that provide insurance company ratings; they include A.M. Best, Moody’s and Standard and Poor’s. Ratings are not a difficult system to figure out, as they use letter grades to reflect the financial strength and stability of the insurance companies. “Put another way, having a rating of at least an A would be considered a good grade, and so on down the line,” added Lublin.

It should go without saying that when trying to select an insurance company, only stick with companies that have “A” ratings. In most instances those are the companies that have demonstrated stability over the years. Choosing one rated “A” means the confidence of knowing they will pay out on any claims made in the future.

Checking ratings isn’t the only way to take the pulse of an insurance company. There are other methods of checking a company’s strength as well. Hit the Internet and locate all the public information on the web. Granted much of this may be supplied by the company and may not have what you want to know, but it’s a place to start.

Another method to find out about the company is to ask an insurance broker about their reliability. “This word of mouth method is often even more valuable than anything found online, as it gives you real life anecdotes. In addition, don’t be shy about contacting the company directly and ask them about their financial situation,” indicated Lublin.

While that might sound like a completely silly thing to do, consider this: if no one in customer service or any other employee wants to talk about how the company is doing financially, consider this to be a red flag and make decisions accordingly.

Once all the information has been gathered about a variety of insurance companies, say three to start with, it’s time to make choices. “A life insurance policy is a major life decision and a significant investment, so choose wisely after all the facts are in and analyzed,” recommended Lublin, President of Life Insurance 2.0.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.