Gifts of Life Insurance

What it is:

A gift of life insurance is the donation of a paid-up insurance policy or the gift of a policy that requires on-going premiums to maintain. It is an affordable way to give a substantial gift to a charity.


  • a donation receipt for the cash value of the policy. (If you donate an existing policy on which premiums are still being paid, you will receive a receipt for the cash value of the policy and subsequent premium payments you make.)
  • no reduction in the value of your estate

How it Works:

  1. Purchase a new life insurance policy or use an “in-force” policy (premium payments are up to date).
  2. Choose a charity as your beneficiary.
  3. Transfer ownership of the policy to the charity.
  4. Continue to make premium payments on the policy.

Further Info:   

If you are considering a gift of life insurance, we recommend you consult with a qualified financial planner and your insurance broker.