Give Through Life Insurance
A life insurance gift can be a powerful way to make a lasting impact, often for a modest annual or monthly cost. There are three common ways to designate life insurance to a charity.
How do I make a gift of life insurance?
1) Name Sierra Club Canada Foundation as your beneficiary
If you have an existing policy, you can name us as a beneficiary. You retain ownership and control of the policy during your lifetime and are responsible for the premiums. When the policy pays out, Sierra Club Canada receives a sizeable gift. As a bonus, your estate will get a charitable receipt to help pay down taxes on your last tax return.
2) Donate your policy to Sierra Club Canada Foundation
You can transfer ownership of your life insurance policy. Sierra Club Canada becomes the owner and beneficiary. A calculation is done to determine the policy’s value, and you receive a charitable receipt for this amount that can be used towards your current tax returns.
If you transfer ownership of a life insurance policy to Sierra Club Canada, you can continue supporting the policy by making annual donations to us to cover the premium amount. We will provide a tax receipt for each donation and pay the premium directly to the insurer, ensuring the policy remains active and your gift is fully realized.
3) Buy a new policy
Lastly, you can buy a new policy and name Sierra Club Canada Foundation as both the beneficiary and the owner. If you make annual charitable donations to cover the premium, we will issue your tax receipts, and we pay the insurer directly. This empowers you to make a meaningful impact over time through convenient annual contributions.
More information
Our legal name is: Sierra Club Canada Foundation
Our charitable registration #: BN 11914 9789 RR0001
We recommend that you consult a qualified insurance advisor who is familiar with charitable giving and can help you understand tax benefits and the best gift options.
Interested in exploring a life insurance gift?
We’d be happy to walk you through the options. Feel free to reach out to Taylor Farrugia, Development Manager, at development@sierraclub.ca or by phone at 613-241-4611 or 1-888-810-4204.
Taylor Farrugia, Development Manager