donating Life

Insurance

Turn modest premiums into a powerful legacy.

A gift of life insurance allows you to make a significant impact at Alberta Ballet—often much larger than you could give in your lifetime—without affecting your current cash flow. It’s a flexible, accessible option for donors at all stages of life.

What You Can Give:

  • A New Life Insurance policy:
    You retain full ownership of your life insurance policy, but name Alberta Ballet as a beneficiary (for all or a portion). After your death, the charity receives the proceeds directly—bypassing probate—and your estate receives the tax receipt.

  • An Existing Policy:
    You make Alberta Ballet the owner and beneficiary of a life insurance policy of an existing policy you already own. You continue to pay the premiums, but the charity becomes the legal owner. Alberta Ballet can be made a partial or full beneficiary.

  • Use Life Insurance to Replace a Gift
    This strategy allows you to make a significant charitable gift during your lifetime (e.g., donating appreciated securities or real estate), while using a life insurance policy to replace the value of that gift for your heirs.

  • Group Life or Workplace Policies

    In some cases, donors may choose to assign a portion of their group life insurance policy to a charity, or name Alberta Ballet as the beneficiary. This can be done with HR or benefits plan administrators.

How You Can Give:

  • You stay in control of the policy, it’s easy to change or update, and it’s simple to arrange through your insurance provider. The receipt goes to your estate helping offset final taxes.

    • Step 1: Contact Alberta Ballet to let us know your intent. We’ll ensure your gift aligns with your goals and provide suggested beneficiary wording.

    • Step 2: Contact your insurance provider to request a Beneficiary Designation Form.

    • Step 3: Complete the form, naming “Alberta Ballet Company” as a full or partial beneficiary.

    • Step 4: Return the form to your insurer and provide Alberta Ballet with a copy for our confidential records.

    • Step 5: Update your will or estate plan to reflect this designation, if needed.

    Documents Alberta Ballet Can Provide:

    Sample beneficiary designation language

    Letter of intent template (optional)

  • You receive a charitable tax receipt annually for the premiums you pay. If it’s an existing policy with cash value, you may receive a receipt for that value today. Alberta Ballet receives the full benefit later, and you benefit now.

    • Step 1: Contact Alberta Ballet to discuss your goals and confirm we’re able to receive ownership of the policy.

    • Step 2: Request a Change of Ownership Form from your insurer.

    • Step 3: Complete the transfer form, naming Alberta Ballet as both owner and beneficiary.

    • Step 4: Continue paying premiums — and receive a charitable tax receipt for each payment.

    • Step 5: Notify us with copies of the documentation when the ownership transfer is complete, so we can issue receipts and steward your gift.

    Documents Alberta Ballet Can Provide:

    Charitable gift of insurance agreement (template)

    Sample language for ownership forms

    Annual receipt tracking sheet

  • Supports Alberta Ballet now, but protects your family’s inheritance. This can often be used in straightforward or complex estate plans or business succession.

    • Step 1: Contact Alberta Ballet to explore whether a major gift or legacy fits your current plans.

    • Step 2: Speak with your financial advisor or insurance agent about purchasing a life insurance policy for your heirs.

    • Step 3: Make your charitable gift now (e.g., of securities or property).

    • Step 4: Assign your heirs as beneficiaries of the new insurance policy.

    • Step 5: Ensure the entire plan is documented in your estate and financial planning files and provide updated copies to Alberta Ballet.

    Documents Alberta Ballet Can Provide:

    Major gift pledge agreement (if needed)

    Summary document for your financial advisor

  • Uses your group life insurance plan through your employee benefits by naming Alberta Ballet as a beneficiary. Makes it easy for those who don’t hold private policies

    • Step 1: Contact Alberta Ballet to express your interest and confirm we can receive the gift.

    • Step 2: Check with your HR or benefits provider about naming a charity as a beneficiary.

    • Step 3: Complete their beneficiary designation form, naming Alberta Ballet.

    • Step 4: Notify us once the change is confirmed with copies of the documentation, so we can recognize your future gift.

    Documents Alberta Ballet can provide:

    Sample group policy designation wording

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