Life Insurance
Gifting life insurance is a terrific way to create a future legacy while preserving your Estate for your loved ones. You can make a large future impact with a small gift today – Donating life insurance allows you to make a significant charitable donation for a comparatively small premium.
The Benefits of Gifting Life Insurance
- Tax benefits – Depending on how you donate your life insurance, you can enjoy tax benefits during your lifetime or on your estate.
- Large Future Impact – Donating life insurance is a cost-effective way to create a significant gift with modest premium payments.
How to donate Life Insurance
- Name Lions Gate Hospital Foundation as the beneficiary of your life insurance policy. Your estate will receive a charitable tax receipt for the proceeds of the policy.
- Transfer the ownership of a paid-up policy with Lions Gate Hospital named as the beneficiary. You can either defer the tax receipt for your estate or receive an immediate tax receipt for the fair market value of the policy.
- Transfer the ownership of a partially paid-up policy with Lions Gate Hospital named as the beneficiary. You will receive a tax receipt for the fair market value of the policy and annual tax receipts for all ongoing payments of premiums.
- Establish a new policy with Lions Gate Hospital Foundation as both the owner and beneficiary. You will receive annual tax receipts for all ongoing payments of premiums.
Talk to our Planned Giving Team
If you would like confidential assistance regarding gifts of life insurance or would like additional information, please contact:
Carolyn Anderson
Director of Planned Giving
Email: [email protected]
Phone: 604.984.5857