When you give a new or existing life insurance policy to the Canadian Council of the Blind, you are turning monthly premiums into a significant gift. Many of our younger donors would like to make a significant gift; however, they may not have the financial resources to do so. A gift of life insurance – whether a new or existing policy – is a lasting gift for the future that is easy to create and the perfect answer to fulfill your philanthropic intentions once you have made provisions for your family and loved ones.
The insurance benefit will eventually be paid to the Canadian Council of the Blind. It is separate from your estate, so there are no administrative costs or probate fees. Your gift has no effect on your estate’s assets. PLUS! you will receive a charitable tax receipt that can be used either during your lifetime or for your estate.
Benefits to you
- Easily arranged with your life insurance specialist.
- An inexpensive way to make a larger gift without depleting your current assets or your estate.
- The ultimate value of your policy will far exceed the premiums you pay.
- Receive immediate tax relief in the form of charitable tax receipts for the premiums you pay.
- Know that your gift will occur as planned.
- Your gift is not on public record. Unlike a will, your gift cannot be contested.
- Your gift can be honoured during your lifetime.
- Become a member of the 1944 Legacy Society and receive recognition on our digital donor wall and an exclusive pin.
Ways to donate
- Name the Canadian Council of the Blind as beneficiary of your life insurance policy, and your estate receives a tax receipt for the proceeds of the policy.
- Transfer ownership of a paid-up policy to the Canadian Council of the Blind. You can receive a current tax receipt for the fair market value of the policy or defer the tax receipt for your estate.
- Transfer ownership of a partially paid-up policy to the Canadian Council of the Blind and you will get a tax receipt for the fair market value of the policy and annual tax receipts for your ongoing premium payments.
- Take out a new policy with the Canadian Council of the Blind as the owner and beneficiary and receive annual tax receipts for your ongoing premium payments.
Please seek expert advice. The Canadian Council of the Blind strongly recommends that you seek professional financial, insurance, and/or legal advice to ensure your financial goals are considered, your tax situation is reviewed, and your legacy gift is tailored to your circumstances. A financial or legal advisor should review in detail what plan best fits your needs. Before considering a legacy gift, you should have already satisfied the needs of your family.
For further information, please contact Braydin Frizell at [email protected].