Marketing Monthly | December 2016: Charitable Giving
In this issue:
- Charitable giving using life insurance
- Donate life insurance, save tax
- Manulife Financial | Charitable giving with life insurance
- Charitable giving
- Charity Navigator
Charitable giving using life insurance
Most often when we donate money to charities, we do it in the form of a direct contribution. Typically, someone knocks on your door or solicits you through the phone. Sometimes, we give a little by leaving our change at the cash register or even by attending a fundraiser of some sort.
Charitable gifting with life insurance is much different. The most attractive advantage using life insurance is that it allows one to make a much larger gift to a charity.
When using life insurance for charitable gifting, it is important to consider different strategies and the different tax benefits. I offer three ways in which to help charities with gifts of life insurance…
Donate life insurance, save tax
Fewer Canadians are donating to charity. Statistics Canada reports donations fell nearly 2% to $8.3 billion in 2012. What’s worse, the number of people giving slipped 1.4% to 5.6 million.
Advisors can help reverse this trend by telling clients their charitable aspirations can be tax-efficient. And, thanks to Budget 2014, it’s become easier for people to donate via their wills.
Manulife Financial | Charitable giving with life insurance
Your client wants to leave a gift to their favourite charity when they die. You want to show your client how a life insurance policy can be used to facilitate the gift and the potential tax benefits associated with the gift. Where do you go from here?
Charitable Giving with Life insurance is a custom concept illustration that show your client two different ways to structure a gift of a life insurance policy…
Charitable giving
Understanding what motivates our clients to make charitable giving a part of their financial plan, is be a good first step in our recognizing the overall needs of our clients.
The Seven Faces of Philanthropy by R.A. Prince and K.M. File offers up some common identifiers on what motivates these different types of donors. Here is the basic list of charitable donors…
Charity Navigator
Founded in 2001, Charity Navigator has become the nation’s largest and most-utilized evaluator of charities. In our quest to help donors, our team of professional analysts has examined tens of thousands of non-profit financial documents. We’ve used this knowledge to develop an unbiased, objective, numbers-based rating system to assess over 8,000 of America’s best-known and some lesser known, but worthy, charities.