What is that cause you have so much passion for that you could talk to strangers on the street about it, yell it from the mountaintops, have a shirt for every event that highlights it hanging in your closet, maybe even dump a bucket of ice water over yourself for social media to show your support, or dedicate you whole life to it?
Whatever the cause, if you’ve found yourself wishing that you could do more to support it: you can. You might not be able to dedicate you life, but you can donate your life insurance.
With Insuring A Better World Fund, all you have to do is choose. Sounds easy, right?
There is nearly $20 trillion of life insurance in force in the United States, and 88% of policies will terminate without providing death benefits to policy owners or charity. Each year, over $112 billion in life insurance held by seniors is forfeited or liquidated for a fraction of the policies’ ultimate value when their owners decide to stop paying premium. We know that this loss can be repurposed to better the world.
Insuring A Better World Fund was created to save lapsing policies from waste and drive their value to charity. By donating their unwanted life insurance policy, donors can make legacy-sized gifts to their favorite charity with a straightforward and no cost process. We pay all premium and other costs for donated policies to relieve donors and their selected charities from the financial burden of maintaining the policy.
This innovative program will aggregate hundreds of individually donated life insurance policies just like yours to establish a stable, predictable, and growing source of cash flow to charities for decades to come. The best part is that neither you, nor the charities, have any obligation to pay the premium or any other cost.
David’s life is fueled by the words of the sages “If I am not for myself, who is for me? If I am only for myself, what am I? If not now, when?” His devotion to philanthropy led to his collaboration with longtime friend, Robert Stuchiner, to form the Insuring A Better World Fund, an opportunity for all financial professionals to help do our part to give back to charity. The Insuring A Better World Fund is a 501(c)(3) public charity whose mission is to transform life insurance into charitable ideals. The fund has generated contributions to tens of charitable organizations providing scholarships, legal aid to the needy, money to combat disease, find cures and much more.
Mr. Simon is the creator of the Arbitrage Life Payments System, the nation’s first of the current day life insurance premium finance payment plans. In 1988, STP Enterprises, Inc., the company he co-owns with his wife Pam, became the first agency in the nation to utilize premium finance in the sale of individual life insurance. STP has sold over 1500 policies financed through the ALPS, totaling billions of dollars of death benefit and nearly a billion dollars of premium.
STP has financed and re-financed billions of dollars of loans. In 1994, David was the first to securitize life insurance policies with Continental Bank, Fuji Bank and Life Investors Insurance Company. STP has administered its ALPS program flawlessly for over 30 years on behalf of major insurance carriers, including AEGON, Lincoln Benefit Life, American National, etc. and many of the nation’s largest banks, including Citibank, JPMorgan Chase, Bank of America, etc.
David has lectured for decades at insurance company seminars as well as life insurance professional and bank gatherings across the United States. David is an attorney who began his career in litigation. The Northridge Meadows case, arising out of the earthquake in California, and the Adames case, arising out of a shooting in Chicago, are among the notable actions David litigated.
Mr. Simon has been active with many charitable organizations over the last 40 years. He has served on several charitable boards and currently serves on two boards. David is a graduate of the University of Michigan and earned his law degree from the University of California (Hastings).
Robert D. Stuchiner is the co-founder of the Insuring A Better World Fund, a public charity whose mission is to transform life insurance to charitable ideals. Insuring A Better World Fund has generated nearly a million dollars for charities. Robert’s passion for his work in the life insurance industry and his emphasis on doing well while doing good led to the collaboration with Mr. Simon to launch this unique nonprofit.
Robert is the founder and Senior Advisor to Synergy Life Brokerage Group, LLC. Synergy specializes in designing and implementing cost-effective strategies to mitigate risk, maximize flexibility, reduce taxes and achieve philanthropic goals. Synergy has been recognized twice by Private Asset Management as best high-net worth insurance agency.
Mr. Stuchiner previously worked for insurance companies, most recently AIG where he was a Senior Vice President in charge of product development and market strategy for the corporate and affluent markets group. Robert’s knowledge of estate planning, executive benefits and planned charitable giving makes him a valued resource to life insurance professionals in the affluent markets.
Mr. Stuchiner is the winner of the National Career Achievement Award granted by the Lighthouse for the Blind. Robert is a past recipient of the Stephen Kramer Humanitarian Award granted by the UJA-Federation of New York. Mr. Stuchiner has published articles on life insurance products and carriers in Trusts & Estates magazine, CCH professional publications and the NYU Review of Employee Benefits and Executive Compensation. Robert is a featured and highly rated speaker at life insurance industry meetings. Robert serves on the board for the Center for Financial Studies. He received his MBA from the Stern School at New York University and his BA from Sarah Lawrence College.