It follows the Sunnah of the Prophet (saw)
On the day of Eid-ul-Adha, the Prophet (saw) sacrificed two animals- one for himself and one on behalf of those in the Ummah who are unable to sacrifice for themselves. This second Qurbani is known as the Prophetic Qurbani and is a beautiful Sunnah practice that the Prophet (saw) advised his family and friends to also perform.
Thereafter, this tradition was continued by the Sahabah (ra):
Today, this beautiful act of generosity is forgotten and many of us are not even aware of this Sunnah of the Prophet (saw) however, it is never too late to start reviving it.
Allah (SWT) tells us in the Noble Quran that the Prophet (saw) is the best example for mankind:
It is important that we, as the Ummah, follow the Prophet's (saw) exemplary teachings and what better way of practicing the Sunnah than giving a Prophetic Qurbani?
There are plenty of benefits.
This hadith holds much importance for those who have the means to give on behalf of the Ummah. Millions of Muslims who fall below the Nisab threshold do not have the opportunity to offer a Qurbani sacrifice and participate in this religious ritual to commemorate the sacrifice of Ibrahim (as).
Around the world, meat is an unaffordable luxury for many poverty-stricken families. The extra sacrifice (Prophetic Qurbani) you make can ensure that these communities can enjoy a hot, nutritious meal, with fresh meat, on the day of Eid. In the same way that Zakat al-Fitr is given at the end of Ramadan to feed poor Muslims, a Prophetic Qurbani also ensures that the poor can enjoy a meat-filled meal on Eid-al-Adha.
By giving on behalf of the poor and needy, you are not only doubling your reward but are also ensuring that these Muslims are also involved in the blessed festivities of Eid-ul-Adha.