One way to make a gift to The Sierra Fund is with a gift of life insurance. We accept gifts of life insurance either as the beneficiary of a policy or as the sole owner and sole beneficiary. Depending on the type of insurance gift, The Sierra Fund will use the funds to further our efforts to protect endangered communities throughout the Sierra Nevada.
Types of Insurance Gifts
Designation of The Sierra Fund as Beneficiary: You can name The Sierra Fund as direct beneficiary of all or part of your life insurance policy or as contingent beneficiary should your heirs not survive you. You would continue to act as owner of the policy.
Outright Gift of a Paid-up Insurance Policy: You can donate your paid up life insurance policy to The Sierra Fund. The policy may have some cash value and this provides us with the option of holding the policy until the maturity date or surrendering the policy in order to receive the fund’s current cash value.
Advantages
- Immediate Tax Savings
You can claim an income tax charitable deduction based on the policy’s present value or the net cost of the policy. - Future Tax Savings
The value of the policy will be removed from your potential gross taxable estate. - Leave a Legacy
You will be helping to ensure that natural places around the world are protected and preserved.
How It Works
Years ago, Jane bought a life insurance policy and she now wishes to donate it to The Sierra Fund. Since she assigned the policy to us, Jane can claim an income tax charitable deduction for the amount totaling what she has paid over the years. The total amount of the policy will be removed from her estate and The Sierra Fund will be able to use the value of the policy to further our mission of saving critical lands and waters.
Making Your Gift
For more information on gifts of Life Insurance please e-mail info@sierrafund.org or call us at (530) 265-8454.