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Donate your life insurance policy to provide a low-cost legacy gift.
A gift of a life insurance policy can provide a significant legacy gift while only costing a fraction of the value of the gift. You have the option of naming us as the beneficiary of an existing policy, signing over an existing life insurance policy, or purchasing a new policy and naming us as the owner and beneficiary of the policy.
You can make us a beneficiary of your new or existing life insurance policy by naming either Tides Canada Foundation or Tides Canada Initiatives on the plan’s documents—simply advise the institution holding your life insurance policy of the change. In doing so, the proceeds from your life insurance policy bypass your estate (and probate taxes) and flow directly to us. In addition, your estate will receive a charitable tax receipt that may help offset taxes.
Here is some sample language to help you make us a beneficiary of your life insurance policy.
Please note: You should always seek independent legal and accounting advice when choosing to make a legacy gift.