ShareThisGifts of Insurance
It is possible to name Covenant House Vancouver as a beneficiary when taking out an insurance policy or to add Covenant House to an existing policy. A gift of life insurance allows you to make a substantial donation later by making small premium payments now.
Because you're making small regular payments over time towards the policy, it can grow to become a sizable gift. Life insurance can be used in different ways to make a gift to Covenant House Vancouver.
For individuals who have a fully paid policy that no longer fulfills its original purpose, the ownership and beneficiary designation can be transferred to Covenant House. In doing so, you will be issued a tax receipt for the cash surrender value and any accumulated dividends within the policy.
Another way to help Covenant House Vancouver is to purchase a new policy whereby we are named the owner and beneficiary. The premiums that are paid are eligible for tax receipts.
Covenant House Vancouver is also a participant organization with Charity Life Direct, an on-line program that allows donors to purchase small or medium-sized guaranteed life insurance policies simply and easily.
For more information, please visit www.charitylifedirect.com/.
The purpose of a life insurance policy is to see that those who are important to you are well taken care of at the time of your death. By using life insurance as a means to donate to Covenant House, you ensure that homeless young people will continue to have a safe place to call home.
Because tax credit policies of Canada Revenue Agency (C.R.A.) change from time to time please contact Crystal Montecalvo for updated information regarding gifts of insurance and the tax implications for you or your estate 604-639-8934 or cmontecalvo@covenanthousebc.org.
Disclaimer: Please note that none of the information on this site constitutes legal or accounting advice. You should always consult your own financial and legal advisors before making a decision. If you or your advisors require any further information in order to make the best decision for you please call Crystal Montecalvo.
604-639-8934 or e-mail cmontecalvo@covenanthousebc.org.
