Life insurance
Life insurance: it can help you fund a truly generous gift tomorrow while realizing attractive tax benefits at an affordable cost today!
Three ways to contribute life insurance
- You can give the future proceeds of an existing policy: designate the university as the beneficiary and your estate will receive a charitable tax receipt.
- You can give the policy itself: in addition to designating the university as the beneficiary, transfer the ownership of the policy to the university and receive a charitable receipt for the net cash surrender value.
- You can give a new policy: receive a charitable tax receipt for any premiums paid on the policy.
Benefits of gifts of life insurance
- Affordable annual premiums often resulting in the largest gift of your lifetime.
- Receive a charitable tax receipt based on the way the insurance was gifted.
- Gifts of life insurance are excluded from probate.