Gifts of Life Insurance
A Simple Way for You to Make a Significant Gift to Support Indigenous Youth
A gift of life insurance is a simple way for you to make a substantial gift to Indspire.
Benefits to You
- Affordable – It’s an affordable way to make a major gift through modest premium payments which are tax deductible.
- Reduced Fees – The insurance policy is not part of your estate, and therefore, is not subject to probate fees (fees that are due from your estate upon your death through the execution of your will by your executor/executrix).
- Reduced Taxes – Where Indspire is the beneficiary, the donation receipt may be used by your estate to offset any taxes due on your terminal tax return.
How to Give a Gift of Life Insurance to Indspire:
- Purchase a new life insurance policy and name Indspire as the owner and beneficiary. The premiums you will pay qualify for a charitable donation receipt.
- Donate an existing policy that you no longer need. The donation receipt for an existing life insurance policy is calculated on the basis of its fair market value. Please note: Indspire will facilitate the calculation of the fair market value using the insurance policy by an independent actuary.
- You can keep ownership of your life insurance policy and name Indspire as the beneficiary. Upon your death, your estate will receive a charitable donation receipt when the proceeds are paid to Indspire.
Please Seek Expert Advice: For more information, please consult your insurance agent, accountant or financial advisor.
Indspire strongly recommends that you seek professional advice to ensure your financial goals are considered, your tax situation reviewed, and that your planned gift of life insurance is tailored to your circumstances.
For more info, please contact us:
Cindy Ball, CFRE
Vice President of Development
firstname.lastname@example.org | 1.855.INDSPIRE (463.7747) X245