- You can take an existing permanent policy that has finished serving its original purpose and simply have the ownership and beneficiary designation transferred to Chalice. This designation is irrevocable and cannot be changed. A charitable tax receipt will be issued for the worth of the policy at the time of transfer. Any continued premium payments that you pay will also qualify for a charitable tax receipt. Please note that there are tax advantages to retaining existing policies. Chalice strongly recommends that you discuss this matter with your insurance specialist before any transfer takes place.
- You can purchase a new life insurance policy. After one premium payment has been paid, Chalice is named as the owner and beneficiary. You continue to pay the premiums and receive a charitable tax receipt for those payments. Again, this designation is irrevocable and cannot be changed.
- You can name Chalice as the beneficiary on your individual or group life insurance. You retain ownership of the policy. You can change the beneficiary designation at any time. You will not receive a charitable tax receipt for any premiums paid during your lifetime. Your estate will receive a charitable tax receipt for the value of the policy proceeds paid to Chalice. If you are a salaried employee and have a benefit plan that has a death benefit component, consider naming Chalice as the beneficiary; it is an easy way to make a planned gift.
Gifts of Life Insurance
Giving a Gift of Life Insurance is an easy way to make a significant gift to Chalice. There are several ways to give a Gift of Life Insurance:
SPONSOR NOW!When you sponsor a child with Chalice, you provide ... educational support, including school materials, books and fees. Sponsorship also provides children with improved nutritional intake, medical care, clothing and footwear, and other basic necessities.
Sponsor with Chalice today, and see the difference $37 a month can make in a child's life.