Many individuals graciously donate their time, talent and treasure to the charities they love. One huge source of treasure for charities, however, has been ignored. A donor’s ability to obtain life insurance, referred to as their “insurable interest,” can be exceptionally valuable to the charity, today, and it can provide a source a charitable funds to replace at least the financial loss of these “front-row” donors who are so precious to long term viability of the charity.

Many donors, who otherwise may have no interest in insurance, may be willing to allow charity to purchase insurance on their lives if they did not have to pay for it. Many charities would be willing to purchase the policy with funds loaned to the charity from the donor’s IRA, especially if the death benefit was used to repay the principal. This guaranteed debt repayment can provide an immediate and substantial cash benefit to charity. This is called a “CHIRA®” plan and it can generate substantial capital for charity, today, right when you need it. It can be implemented in a prudent manner that preserves the long term viability of your charity. This new source of endowment can provide very real results, today. Approved by insurers and state departments of insurance, the time for legitimate “insurable interest” gifts has arrived. 

A CHIRA® is a planning opportunity that allows an individual to redirect IRA funds into their favorite charity while insuring that the funds are returned to their family upon their death. This shift in wealth, from Wall Street to Main Street, can generate an immediate benefit to charity without income tax to the individual. 

CHIRA® is not a life insurance/annuity arbitrage plan which fail for lack of insurable insurance (see New York Office of General Counsel letter dated May 6, 2008 - search "New York 200741016 Insurable Interest"). In the past, the charitable industry has fallen victim to these types of aggressive schemes to maximize agent commission. It is not a charitable premium financing plan using strained financial calculations in hopes to benefit charity in the distant future. Many charities have discontinued the use of third party premium financing plans due to its inherent interest rate and mortality risk.  Many of these plans have not had their day of reckoning as in many cases insurers were not fully informed of the underwriting risk and reinsurance opportunities. In our plan, there are no third party financiers or intentions to sell the policy. There are no slight of hand underwriting tactics that make the same insured look healthy to one insurer and less healthy to another.  Inflated commissions today can merely be the invitation for litigation from disgruntled heirs or charities tomorrow.  We respect our relationship with agents, donors, charities, insurers and the taxpayers. All parties can and do benefit from this plan.

CHIRA® is motivated by charity and is not a get-rich quick scheme. The CHIRA® is not an aggressive tax savings device. It is a charitable plan and does not reduce any tax.  Without charitable intent, this plan makes no sense as it involves the gifting of one's precious insurable interest.

The CHIRA® is not a clever marketing strategy designed to attract agents with flash and glitter. Boot camp promotions often work best when there is no production as these promoters charge massive fees to agents such that production is not really necessary.  Our goal is to actually help change the world for the better, and that means production, not just recruitment.

The CHIRA® is not smoke and mirrors, it is the real deal. Covered in the USPTO Application 20050075971, the CHIRA® plan was invented here by tax attorney, Doug Delaney, who obtained the original private letter ruling 200741016 from the IRS National Office after years in review. The CHIRA® plan has been reviewed by state regulators of securities and insurance. CHIRA® has undergone strict scrutiny by insurers. CHIRA® has been the subject matter of various trade articles from such well known journals as CCH Journal of Retirement Planning, CCH Financial and Estate Planning, Trusts and Estates, Steve Leimberg's Charitable Planning Newsletter, Ed Slott's IRA Advisor and the Southeast Wealth Management Business Journal.  CHIRA®  USA, LLC reserves all rights even as against ineffective infringers or the agents and unsuspecting charities who inappropriately rely upon them. 

CHIRA® agents are properly educated and will have access to a vast wealth of professionally developed materials available on the agent document server. For example, the industry standard CHIRA® Best Practices Manual™ is an incredible tool for introducing charities to a sound methodology in implementing the plan. CHIRA® is not for everyone or every charity. Our agents have the tools to guide the charity.