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| Today is September 7, 2010 |
2009 Conference, Oct. 14-17, 2009, National Harbor, MD |
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Ethics & Standards
| Charitable Life Insurance Evaluation Guidelines |
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To view the entire
Charitable Life Insurance Evaluation Guidelines in
pdf format,
click
here.
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(INDIANAPOLIS, Ind.—June 15, 2005) The National Committee on Planned
Giving® (NCPG) has released Charitable Life Insurance Evaluation
Guidelines: A Tool for Charitable Gift Planners. The guidelines are
designed to help evaluate the ethics, legality and charitable intent
of insurance gifting plans, and will serve as a supplement to NCPG’s
Model Standards of Practice for the Charitable Gift Planner.
The guidelines, posted on www.ncpg.org, do not judge the merits of any
particular types of life insurance gifts, but rather, suggest
appropriate steps for gift planners and donor advisors to take when
exploring the viability of a diverse array of charitable insurance
applications.
NCPG president and CEO Tanya Howe Johnson said the release of these
guidelines is timely, as the number of insurance programs being
aggressively marketed has grown exponentially over the last few years.
“Virtually every charitable gift planner has been approached with a
charitable life insurance proposal,” said Johnson. “These proposals go
well beyond the tried and true uses of life insurance in charitable
giving. NCPG hopes these guidelines will provide a valuable resource
for charities that are searching for an authoritative source on this
subject.”
Craig Wruck, who chaired the task force charged with creating this
report, said the current legislative climate calls for this kind of
organizational diligence. “The Senate Finance Committee is on the cusp
of creating what we anticipate will be the first truly sweeping
charitable reform of the last four decades,” said Wruck.
“Senators Chuck Grassley (R-IA) and Max Baucus (D-MT) have already
introduced legislation designed to crack down on charity-owned life
insurance policies (CHOLI). NCPG’s work begins a new era of careful
vetting of these types of offers, and will help charitable gift
planners avoid some of the pitfalls congressional charitable reformers
are most concerned about.”
The Insurance Gift Guidelines Task Force comprised appointed members
with various gift planning specializations and expertise with
charitable gifts of insurance.
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Ethics & Standards
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