Make your gift grow

Life Insurance Gifts

A gift of a life insurance policy can cost you very little, but be a substantial gift to island conservation in the future.  By giving your life insurance policy to the Islands Trust Conservancy, your donation may end up being several times the amount you paid in premiums.  Many Canadians today whose families no longer need the security of life insurance are gifting their old policies to those causes and organizations close to their hearts.  There are various ways you can make a planned gift to the Islands Trust Conservancy using life insurance.

Name the Islands Trust Conservancy as a beneficiary

You can name the Islands Trust Conservancy as a primary beneficiary of your life insurance policy or as a contingent beneficiary should your other beneficiaries not survive you.  After your lifetime, the benefits from your policy pass to the Islands Trust Conservancy to be used to protect land in the islands.  A gift of your life insurance proceeds gives you the personal satisfaction in providing for the causes that matter most to you.  Also, your estate receives a tax receipt for the proceeds of the insurance policy to be put towards your final tax return.  Naming the Islands Trust Conservancy as a beneficiary is easy to do - simply contact your insurance carrier and request a beneficiary form.  You have the freedom and flexibility to change your mind at any time.

Transfer ownership of a paid-up policy

You can name the Islands Trust Conservancy as irrevocable owner and beneficiary of a paid-up insurance policy.  You would receive an immediate tax receipt for the fair market value of the policy.  The Islands Trust Conservancy would have the option of either holding the policy until the maturity date or surrendering the policy in order to use the current cash value to conserve land immediately.

Take out a new policy

You can take out a new life insurance policy and designate the Islands Trust Conservancy as irrevocable owner and beneficiary.  Much like making a monthly donation, you would make the premium payments to the policy, receiving annual tax receipts for your donation.  Once the policy matured, the Islands Trust Conservancy would receive the proceeds of the policy.  The final gift to the Islands Trust Conservancy would be significantly more than the amount paid in premiums, allowing you to make a larger gift than you thought possible.

Transfer ownership of a partially paid-up policy

You can transfer irrevocable ownership of a partially paid-up life insurance policy, also naming the Islands Trust Conservancy as the beneficiary.  You would receive an immediate tax receipt for the fair market value of the policy, and continuing to make premium payments would receive annual tax receipts for your contributions.  Once the policy matured, the Islands Trust Conservancy would use the proceeds of the policy to protect landscapes in the islands.
Please consider donating your life insurance policy as a creative way to use the assets you have to conserve the most endangered ecosystems in the islands.

Request more information

Contact us and we can help you identify ways to give that meet your financial goals and vision for the future.

Carla Funk
A/Fundraising Specialist

We recommend anyone contemplating a planned gift talk with an independent financial advisor.  If your advisor is not familiar with an option we describe here, we would be happy to provide additional information to them.

Let Us Know Your Plans

Have you already included the Islands Trust Conservancy in your estate plans?  Please let us know

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Page last updated: 22/01/21
Copyright © The Island Trust Conservancy.     The Islands Trust Conservancy is a qualified donee under the Income Tax Act. Donations are tax-deductible as allowed by law.