You and I both know the life insurance industry is filled with lots of top-notch people, and I love to share stories of how they go above and beyond when I come across them. Today I'd like to share a story about a full-service insurance and investment company that has made a big commitment to helping a family adopt an Eastern European child with Down syndrome.
Brady Murray, CFP, who is the vice president of career development at Boise, Idaho-based Allegis Financial Partners, says a big part of any financial plan they put together for a family is the protection component — life insurance, in particular. As the company was setting its goals and objectives for 2012, Murray says its leaders felt it was important to give back to the community and be of assistance to others within their community.
"I came up with the idea to help families who would like to adopt a child with Down syndrome but did not currently have all the financial means necessary to do so. Allegis has three employees, including me, who have children with Down syndrome, and this cause was immediately embraced by the whole agency," Murray says.
In Eastern Europe, Murray says, children born with Down syndrome tend to be immediately given up for adoption. When they turn 5 or 6 years old, they are placed into mental institutions and live there for the rest of their lives. Alarmingly, 75% to 80% of them pass away in the first 18 months. There are many families who want to adopt these children, but financially, they cannot. Murray says it typically costs between $30,000 and $40,000 to adopt a child in these cases, and the family usually has to travel abroad three times before bringing the child back with them.
Through a Down syndrome adoption ministry called Reece's Rainbow, Allegis was able to identify a family in Salt Lake City to assist. The company is raising money to help cover the cost to adopt Victoria, a 4-year-old with Down syndrome in Eastern Europe. For every life insurance application placed in 2012, Allegis is donating $5 to help bring Victoria home. If they have 1,800 life cases by year's end, they will double the donation to $10, equaling $18,000. Murray says that, as of early July, Allegis appears to be on track to hit the 1,800 cases needed in 2012 to double the donation.
"Agents have rallied around this cause," Murray says. "They have a deeper sense of motivation because they are working for a cause and making a difference in not only the client's life (for buying life insurance) but also to a very special girl and her soon-to-be family."
Congrats to Brady and Allegis on the program, and here's hoping you race past that 1,800 application goal.
