Pennies for Heroes has four areas we use the donations that you provide. We call these our “four pillars” and we stand firm in our commitment to them.
1. Our first pillar is financial guidance and planning. Many of our heroes’ families receive life insurance benefits as a result of their loved one’s death. Although substantial, these benefits are usually not enough to ease the burdens of bills and future needs. We provide, at no charge, financial advice/planning so the families of fallen heroes can turn their life insurance settlement into long term income. We want their money to go as far as possible by making wise investment decisions.
2. Our second pillar is medical insurance. Many of our heroes’ families are left without medical insurance within a few weeks of their loved one’s death, or then they are forced to pay expensive cobra/independant insurance costs or go without any medical insurance at all. We hope to provide an affordable medical insurance plan, specific to each family’s need.
3. Our third pillar is trust funds for surviving children. Each year, on the child’s birthday, we will deposit a set amount of money into a trust which is set aside for educational purposes only. This amount is pro-rated, based on the age of the child so when they reach age 18, they have a substantial amount of money to help them toward education and financial stability.
4. Our fourth pillar is that of immediate needs. We will assess each situation individually, and if there are some basic, immediate needs of the family, we work hard to have those needs met.