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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.


Benefits:                        

  • 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.)
  • 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.

Further Info:   

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

Gifts of Life Insurance | Give Confidently. Give Generously.
2017-12-16 15:23:12 America/Toronto -05:00   https://giveconfidently.ca/ways-to-give/gifts-of-life-insurance/