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.
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.
Please see your legal and/or tax advisor for more information and to determine if a charitable gift of life insurance is right for you.
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.
Treatments invented at St. Jude have helped push the overall childhood cancer survival rate from 20% to more than 80% since it opened in 1962. St. Jude won't stop until no child dies from cancer.
St. Jude shares its discoveries with doctors and scientists in your community and around the world, so every child saved at St. Jude means thousands more children are also saved.
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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 firstname.lastname@example.org, call (800) 395-1087, or fill out the form below, and a St. Jude representative will contact you.