Frequently Asked Questions for Donors

Our mission is to transform unneeded or unwanted life insurance into philanthropic ideals. The same life insurance products that protect families from unforeseen tragedies – policies that are often wasted when policy owners stop paying the premium – can now help cure disease, educate children, support the arts, alleviate poverty and ensure a better world for us all. We need your help!

The following are answers to some frequently asked questions from donors about the Insuring A Better World Fund:

Q. Who is Insuring A Better World Fund?

The Insuring A Better World Fund is a charitable program operated by the InterVivos Foundation, a tax exempt, publicly supported charity under Section 501(c)(3) of the Internal Revenue Code.

Q. What does Insuring A Better World Fund do?

Insuring A Better World Fund works with charities, insurance professionals and donors to identify unneeded and unwanted life insurance policies suitable for donation. Insuring A Better World Fund pays all premium and costs of donated policies for the benefit of the donor’s chosen charities.

Q. How does Insuring A Better World Fund work?

Owners donate their unwanted life insurance policy to Insuring A Better World Fund. Insuring A Better World Fund pays all premium and costs and administers all accepted policies. Insuring A Better World Fund then distributes the net death benefits to charities chosen by donors and our Board of Directors.

Q. Who pays all the premium and other expenses?

Insuring A Better World Fund does. Neither you or your chosen charity is responsible for paying any future premium or other costs of donated polices. Donors choose; Insuring A Better World Fund pays; and charities receive the benefits.

Q. How do donors benefit?

A paradigm shift – lapsing policies become philanthropic ideals; satisfaction of your donative intent, improved cash flow; and a potential tax deduction.*Please visit our website and click on our Benefits to Donors page for more information.

* Please note that we are not tax advisors and cannot give you tax advice. Please consult with your tax professional for your specific circumstance.

Q. Who is eligible to donate?

In general, any policy owner (i.e., individual, trust or corporation) of a life insurance policy where: (i) the insured is aged 65 years or older; (ii) the policy has a death benefit of $250,000 or greater; and (iii) the policy was purchased more than three years ago. There are exceptions which may expand the eligibility.

Q. What types of life policies qualify?

All types of life insurance policies, including whole life, term, universal life, survivorship life, group life, etc.

Q. How do I qualify?

Insuring A Better World Fund’s donation analysts will review your life insurance policy and current health condition to determine whether your policy is eligible.

Q. Why does Insuring A Better World Fund request medical information?

No physical exam is required. In order to properly value your policy, your health information is necessary to estimate the cost of future premiums. In most donations a simple health questionnaire is all that is needed. An Insuring A Better World Fund donation specialist will help you.

Q. Are all policies accepted for donation?

No. Insuring A Better World Fund utilizes its management’s years of experience and expertise in underwriting and evaluating life insurance policies. We evaluate policies offered for donation to determine whether charities would benefit from the donation. If a policy is appropriate for donation, Insuring A Better World Fund accepts it and pays the premium and all other costs.

Q. How do I make a donation?

You can call Insuring A Better World Fund at (312) 819-0790; email Insuring A Better World Fund at donate@iabwf.org; or visit our website at www.IABWF.org and select the “Donors” button to start the donation process by filling out our online form.