unique rider. It's is called the Fraternal Legacy Rider which allows me to name a Catholic, non-profit organization as a beneficiary of additional funds. This money is in addition to what my family will receive. My wife will receive a check when I die and so will the organization, in my name without taking anything away from her.
Yesterday, I changed this charitable beneficiary to The Catholic Foundation and specifically to our family's Donor Advised Fund. This way, when I pass, my wife and children will have the privilege of dispersing nearly $35,000 to charities near and dear to all of us.
I love this set up for a few reasons:
1. My life insurance premiums go to a company not focused on jingles or mascots. Rather, they do good with their profits. They do this through the rider, scholarships, local events, and more. Plus, I know that my life insurance premiums are invested in a way that both I and the Church agree with.
2. The money given to The Catholic Foundation too is invested according to Church teachings and if my family allows it to sit in the Donor Advised Fund for a time, it could grow and provide for more giving. In addition, the Catholic Foundation will only allow money to be granted out from the fund to organizations that aren't in contradiction to the Church's teachings.
3. I love the thought of my family getting together and having the joy of supporting organizations we love and doing it in my memory. As much as I know they would love to have me instead, I love that this is one more gift that they in turn can give to others.
I've created links below if you would like to learn more about any of these organizations or funds we like to support. It's called smart giving, reach out to me for more information.
- Catholic Order of Foresters Est. 1883 - Life Insurance, Annuities, Disability Insurance, Long-Term Care Insurance
- The Catholic Foundation - Planned Giving using Donor Advised Funds, Endowments, Scholarships, Charitable Gift Annuities, Charitable Remainder Trusts, Bequests
- The Hahn Family Charitable Gift Fund - Our Donor Advised Fund
- Damascus Catholic Mission Campus - (CYSC) Catholic Youth Summer Camp, Retreats
- Bottoms Up Diaper Bank - Helping single mothers provide diapers for their children.
- Catholic Social Services - Providing assistance for all areas of human need.
- The Columbus Seminarian Discernment Fund - Helping young men discern their calling.
- Back In His Arms Again - Providing resources for a proper dignified burial for babies and other needed resources for parents experiencing loss.
Full Disclosure: I am a Life Insurance Agent for The Catholic Order of Foresters and a Development Officer with The Catholic Foundation.
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