WISCONSIN
Disclosure Wording

The "Disclosure Wording" below, supplied by the State of Wisconsin's Dept. of Insurance is "suggested wording" and NOT mandated by Wisconsin law or its regulations (at this time), because the Dept. of Insurance has not yet gone through its own, involved, legal process of establishing this wording and the mandated use of it through its complicated state regulatory process.

However, it is recommended that charities begin to place this wording into its new Wisconsin gift annuity agreements, for the Wisconsin Dept. of Insurance will ask each charity to use this wording when it applies for a Wisconsin Permit/License. The wording suggested by the Wisconsin Department of Insurance follows:

Notice to Donor: This qualified charitable Gift Annuity is insurance under the laws of the State of Wisconsin and [Name of Charity], as its issuer, is subject to regulation by Wisconsin's Office of the Commissioner of Insurance with respect to its gift annuity program. However, this qualified charitable gift annuity is not protected by the Wisconsin Insurance Security Fund or any other insurance guaranty association. All of the unrestricted assets of [Name of Charity] stand behind this promise to pay.

Note: The wording above, should be placed in all Wisconsin charitable gift annuity agreements in a separate paragraph, in type no smaller than that used in the agreement generally. Agreement should be signed by both donor(s) and charity.

This page last updated September 5, 2003.