Life insurance is the one asset almost everyone has. For the young parent with limited dollars, it is a way to protect the family against economic loss in the event of a parent's premature death. For the business owner, it may provide dollars to buy out a deceased partner's interest or compensate for the loss of a key manager. For older individuals, it provides the liquidity needed to settle an estate and pay taxes.
Life insurance has another important use: it is a popular and practical way to make a significant gift to charity. Your gift to SOS Children’s Villages Canada will be wisely administered through our investment program which will result in a stable source of income to SOS Children’s Villages for years to come.
You may give the death benefit of an existing insurance policy by simply naming SOS Children's Villages Canada as the beneficiary.
However, to receive a current tax benefit, you must also transfer ownership of the policy to SOS Children's Villages Canada. This entitles you to a donation receipt for the cash value of the policy.
When you make SOS Children's Villages Canada the owner and beneficiary of a new policy, you receive a donation receipt for every premium you subsequently pay. At your death, SOS Children's Villages Canada will receive the proceeds.
Please note: SOS Children's Villages Canada encourages you to seek professional legal, estate planning and financial advice before deciding on a course of action.
For more information, please contact Dave Greiner at 1-800-767-5111.