Can a life insurance beneficiary be a charity?
You can name a charity such as St. Jude as a beneficiary to your life insurance policy. You can also name more than one beneficiary and divide the amount among multiple individuals or charities. Learn more about legacy giving at St. Jude.
Can I donate my life insurance policy to charity?
If you have a life insurance policy that you no longer need because of a change in your life circumstances, you can give a paid-up policy to St. Jude Children's Research Hospital, or even a policy on which you are still paying premiums.
ALSAC/St. Jude Children’s Research Hospital does not provide tax, legal or accounting advice. This material is prepared and made available to you for informational purposes only and is not intended to provide or be relied upon for tax, legal or accounting advice. You should always consult a tax professional to determine your particular tax benefits that may result from any particular type of gift to charity.
How do I donate a life insurance policy?
There are two simple ways to set up a gift of life insurance:
- You can irrevocably designate St. Jude as the owner and beneficiary of your life insurance policy. By doing so, you may be entitled to a generous charitable income tax deduction.
- You can name St. Jude as irrevocable beneficiary, but retain ownership of the policy itself. Call or write to your insurance company to request a form to make this change of beneficiary.
Why give to St. Jude through a life insurance policy?
Families never receive a bill for treatment, travel, housing or food — so they can focus on helping their child live.
When St. Jude opened in 1962, childhood cancer was considered incurable. Since then, St. Jude has helped push the overall survival rate from 20% to more than 80%, and we won't stop until no child dies from cancer.
Every child deserves a chance to live their best life and celebrate every moment. When you support St. Jude, you help give kids with cancer around the world that chance. Together, we can save more lives.
Tax ID Number:
We are a tax-exempt, charitable institution listed in the Federal Internal Revenue Service Publication #78, "Cumulative List of Organizations," revised IRS Code 501(c)(3).
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Our Gift Planning department has a representative in your area who can provide further information or help you prepare the right questions to ask your financial advisor to determine what type of planned gift may be right for you. Email email@example.com, call (800) 395-1087, or fill out the form below, and a St. Jude representative will contact you.