LifeShare is a member‑funded, non‑profit mutual aid community that provides a one‑time, tax‑free payout of up to $250,000 to a member’s beneficiaries if the member dies before age 65. Members pay a $48 annual fee and a $32 contribution only when another member passes away, enabling rapid (within one week) financial support without medical exams or underwriting. The model offers an affordable safety net for adults over 40 or those with minor health conditions who cannot obtain traditional life insurance.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals over 40 or with minor health conditions cannot obtain affordable traditional life insurance, leaving their families without a financial safety net when a tragedy occurs.
Solution
LifeShare operates as a member‑funded, non‑profit mutual aid community that provides a one‑time, tax‑free payout of up to $250,000 to a member’s beneficiaries after death, provided the death occurs before age 65. Members pay a modest annual membership fee ($48 billed annually, equivalent to $4 per month) and make a $32 contribution only when another member in the community passes away, typically 4–5 times per year. The pooled contributions are managed through a digital platform that tracks contributions, verifies deaths, and disburses payouts within one week. Actuarial analysis of community size (≈8,000 members) ensures the model remains financially sustainable while offering rapid financial relief to grieving families. The program is endorsed by numerous rabbinic leaders and operates under U.S. non‑profit status, with contributions being tax‑deductible.
Target Audience
Primary customers are adults over 40, or those with minor health issues, who need an affordable safety net for their families, as well as community‑oriented individuals seeking to support mutual aid within a faith‑based framework.
Features
- No medical exams or health records required; only a brief health questionnaire for eligibility
- Fixed $32 mutual‑aid contribution per death, with a maximum of two contributions per month ($64)
- Immediate payout (within one week) after death verification, providing fast financial support
- Community size and actuarial modeling limit payouts to members under age 65, maintaining sustainability
- Tax‑deductible contributions and a transparent, web‑based platform for tracking payments and payouts
- Option to sponsor families who cannot afford the membership fee, expanding inclusivity
- Ability to gift memberships to children or dependents, extending coverage to future generations