As the President of a charity, I wish more people would buy life insurance.  Not because I got my start in financial services selling it, but because it is a great tool.

If someone dies with life insurance, they have more money.  That does 2 things: it decreases the strains on charities because then they pay out less to support widows and orphans, and as such can focus on having greater impact on people than just surviving.  It also means that the families have more money, meaning that they can potentially make gifts of dollars or time to the organizations.  These are both really good things for the charities and Society as a whole.

The other thing as the President is that if someone gives an insurance policy, whether a brand spanking new one or one they’ve had for decades, it creates stability and leverage for the charity.  The current cash value becomes an asset to the organization that we can tap if need that is non-correlated to the market and will give well better than money market internal rates.  And when there is a death benefit paid we are sad for the loss of the benefactor, but can cntinue some of their works and beliefs because we have the financing to do so.

If I could wave my magic wand, I would have every single person associated with the Foundation I run have a policy owned by the organization on them.  Even if they are small ($10k or so), the net effect of them would be absolutely tremendous, and allow me to do even greater good.

So consider life insurance as a technique to enhance your charitable works: it works!