Give a Gift of Life Insurance

Life insurance is an easy and flexible way to donate.

A gift of life insurance is an easy and economical way to give a larger and more lasting gift to charity while having a minimal impact on current assets and disposable income. Since there is no depletion of assets when a charity is named beneficiary, you’ll be making a significant gift at a fraction of the ultimate gift value.

This type of gift can be made immediately rather than waiting to make a gift from assets, and all premiums paid after the transfer of ownership will be tax receipted by the charity.

There are a number of ways to make such a gift:

• Establish a new charitable life insurance policy: A new policy that names PRHC Foundation as the owner and beneficiary will allow you to contribute yearly premiums over time and receive tax deductible receipts for the amount of the premium.
• If you have an old policy:
  • You can transfer ownership of a paid-up policy to the Foundation and receive a charitable receipt for the cash-surrender value of the policy and any accumulated interest or dividends.
  • You can name the Foundation as beneficiary of the policy, or name the estate the beneficiary, and make a bequest for the value of the policy. In this way you can still access the money if circumstances change. The Foundation will receive the tax-free proceeds and the estate will be eligible to claim a donation tax credit.
• If premiums are still payable on a policy, please contact us to discuss your gift further.

Talk to your family. Talk to your advisors. Talk to us. We’re here to help! For more information, please contact Lesley Heighway, President & CEO, at 705-743-2121, ext. 3859 or send her an email.

Always consult a professional financial advisor to discuss the best charitable giving options for you.