About LifeShare

LifeShare is a community-funded program that provides financial support of up to $250,000 to families upon the verified death of a member, eliminating the need for costly fundraising campaigns during times of tragedy. By charging a nominal annual membership fee and a tax-deductible contribution only when a claim is made, LifeShare offers a straightforward alternative to traditional life insurance, ensuring families receive timely financial relief without the complexities of conventional policies.

<problem> Many families lack adequate financial protection against the unexpected loss of a loved one, leading to financial instability and reliance on time-sensitive fundraising efforts during times of grief. Traditional life insurance can be expensive, difficult to qualify for, or may not provide immediate financial relief. </problem> <solution> LifeShare offers a community-funded alternative to traditional life insurance, providing up to $250,000 to families upon the verified death of a member. Members pay a nominal annual membership fee and contribute a fixed, tax-deductible amount only when another member passes away. This model ensures families receive timely financial support without the complexities and high costs associated with conventional insurance policies. LifeShare aims to provide a proactive approach to community support, offering a simple and accessible way for individuals to protect their families and support others in times of need. </solution> <features> - Annual membership fee of $40 - $32 tax-deductible donation required only upon the death of a fellow member - Maximum of 12 donations per year, capping annual contributions at $384 - Payout of up to $250,000 to the beneficiary within one week of death verification - Instant online approval with a brief health questionnaire - Fixed fees that do not increase with age or health changes through age 65 - Secure payment system with pre-authorized automatic contributions - Optional sponsorship of other members </features> <target_audience> LifeShare targets individuals and families who may not qualify for or cannot afford traditional life insurance, including those over 40, individuals with minor health conditions, and those seeking supplemental coverage or a community-based approach to financial protection. </target_audience> <revenue_model> LifeShare generates revenue through annual membership fees ($40 per member) and relies on member contributions ($32 per claim) to fund payouts, with operational costs covered by the membership fees. </revenue_model>

What does LifeShare do?

Where is LifeShare located?

LifeShare is based in Bet Shemesh, Israel.

When was LifeShare founded?

LifeShare was founded in 2023.

Location

Bet Shemesh, Israel

Founded

2023

Employees

2 employees

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LifeShare

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Executive Summary

lifeshare.community 50+

Founded 2023 – Bet Shemesh, Israel

Funding

No funding information available.

Team (<5)

No team information available.

Company Description

Problem

Many families lack adequate financial protection against the unexpected loss of a loved one, leading to financial instability and reliance on time-sensitive fundraising efforts during times of grief. Traditional life insurance can be expensive, difficult to qualify for, or may not provide immediate financial relief.

Solution

LifeShare offers a community-funded alternative to traditional life insurance, providing up to $250,000 to families upon the verified death of a member. Members pay a nominal annual membership fee and contribute a fixed, tax-deductible amount only when another member passes away. This model ensures families receive timely financial support without the complexities and high costs associated with conventional insurance policies. LifeShare aims to provide a proactive approach to community support, offering a simple and accessible way for individuals to protect their families and support others in times of need.

Features

Annual membership fee of $40

$32 tax-deductible donation required only upon the death of a fellow member

Maximum of 12 donations per year, capping annual contributions at $384

Payout of up to $250,000 to the beneficiary within one week of death verification

Instant online approval with a brief health questionnaire

Fixed fees that do not increase with age or health changes through age 65

Secure payment system with pre-authorized automatic contributions

Optional sponsorship of other members

Target Audience

LifeShare targets individuals and families who may not qualify for or cannot afford traditional life insurance, including those over 40, individuals with minor health conditions, and those seeking supplemental coverage or a community-based approach to financial protection.

Revenue Model

LifeShare generates revenue through annual membership fees ($40 per member) and relies on member contributions ($32 per claim) to fund payouts, with operational costs covered by the membership fees.