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ASK THE
EXPERT:
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Transforming a policy into a donation that keeps giving
Kelly Cyre
Entrepreneur and Insurance Advisor at Clark Insurance Advisory
LATE SPRING IS my favourite time of year. I love the smell of buds and blossoms in the air, and I am fascinated at how a seed becomes a beautiful plant in a short time. Philanthropy can be much the same. You can take a small amount of money and turn it into a significant gift - making beautiful opportunities blossom.
Life insurance is an often overlooked vehicle for making a big philanthropic gift. Many clients include charitable donations
in their estate planning and you do not need to be wealthy to create a positive impact. Every person has the ability to be a philanthropist. Donating a policy allows an individual or a corporation to make a maximum gift for minimum cost. In very simplistic terms, $2 to a charity equals $1 of tax saved personally, and $1 to a charity equals $1 of tax saved corporately. →
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