P: 877-355-5018 info@501c8.org

Frequently Asked Questions

FAQ About 501(c)(8) Not-For-Profit Life Insurance:

Yes, absolutely. In that case, it might make sense to compare your existing policy with a 501(c)(8) not-for-profit life insurance company to see if you can save money. Often, people find cost savings. If not, you can consider adding a bit more insurance to your portfolio to access all the member benefits. We see policies as low as $20 per month.

Yes, all the 501(c)(8) not-for-profit life insurance companies we work with are reputable. They have been in operation for over a century and are valued in the billions of dollars. “AM Best” rates every life insurance company in America, and the companies we work with have consistently received an “A” rating for over two decades.

Absolutely, these credible companies have a long-standing track record of paying death claims promptly. While they may not heavily advertise, their reliability and commitment to policyholders are well-established.

These 501(c)(8) entities, with their substantial financial strength, allocate a portion of their resources to member benefit programs. Instead of spending tens of millions of dollars on advertising, they invest millions in benefiting their members.

Yes, having a life insurance policy is the requirement for becoming a member and accessing the free programs. Similar to banking, where having an account with Bank of America doesn’t grant someone access to Navy Federal Credit Union’s member benefits, in the life insurance industry, it works the same way. You need a policy with a 501(c)(8) organization to access the benefits and programs. You choose the cost and coverage amount. We see policies as low as $20 per month.

The amount of life insurance you purchase doesn’t matter. Membership is what counts, and we’ve seen policies for as low as $25 per month. The cost depends on your insurance needs and preferences.

501(c)(8) organizations offer various forms of life insurance, including term life, whole life, universal life insurance, and accidental death coverage. This wide range of options means that most individuals can qualify for a life insurance policy and become members.

The benefits and programs are entirely free as long as you have an active life insurance policy with a 501(c)(8) organization. Feel free to connect with a trusted partner to determine your eligibility and benefits.

No, you simply need to be at least 18 years old and have an active life insurance policy with a 501(c)(8) insurance company. As a member, you gain access to the grant money and you can choose what organization you’d like to partner with. Connect with us and we can walk you through the process.

Yes, 501(c)(8) organizations have lenient underwriting guidelines, making it possible for individuals with various medical conditions to get approved for a policy. You can often obtain first day coverage even if you’ve had a heart attack, stroke, or cancer within the past three years.

The 501c8 Impact Initiative collaborates with trusted partners who specialize as “Life Insurance collaboratives,” focusing on education rather than aggressive sales tactics. These partners can help you understand your options and find a policy that fits your budget.

Yes, our trusted partners are well-versed in all types of life insurance and can offer policies that build cash value through Indexed Universal Life (IUL) and protect lump sums of money with annuities. They also provide wealth management strategies and other financial services.

No, our organization isn’t associated with the banking industry. We use Federal Credit Unions (501(c)(3) entities) as an analogy because they are familiar to most people. However, in the life insurance industry, the concept of being a member of an organization providing benefits applies to 501(c)(8) entities, which is what we educate about through the 501c8 Impact Initiative.

The 501c8 Impact Initiative was established in the autumn of 2023 out of a pressing need. For more than seven years, we have been diligently spreading our message throughout the country, leveraging strategic partnerships and collaborations. Our reach has extended to various settings, including schools, churches, nonprofit organizations, and businesses of all sizes, where we have consistently made a positive impact. We are deeply thankful for the individuals who have contributed to the formation of this organization.

No, the 501c8 Impact Initiative is a 501(c)(3) organization focused on educating and raising awareness about Fraternal Benefit Societies, which are 501(c)(8) entities. Since most people have never heard of a Fraternal Benefit Society or “501(c)(8)” entities, our mission is to inform and educate.

Absolutely, we frequently collaborate with other 501(c)(3) organizations and businesses. We invest time in explaining this concept to their members and employees, allowing them to benefit from our programs. Often, individual members receive grants that support their respective 501(c)(3) organizations or businesses, fostering camaraderie within the community.

You can always contact us via the contact page at www.501c8.org/connect-with-us/. Schedule a conversation with one of our team members, and we’ll be delighted to address any inquiries you may have.