Many younger donors would like to make a significant contribution; however, they may not have the financial resources to make a large gift during their lifetime. A life insurance gift is the perfect answer.
There are various ways you can make this type of gift:
1. Donate an existing policy
You may choose to do this if you no longer need the policy to protect family responsibilities. You simply have the ownership and beneficiary designation transferred to The WHS. A charitable tax receipt will be issued for the policy’s present cash value. Any continued premium payments also qualify for a charitable tax receipt.
2. Donate a new policy
You can purchase a new policy and transfer ownership to the WHS. The WHS would name itself beneficiary at that time, You will receive a charitable tax receipt for the full amount of the premiums you pay on the policy each year
3. Make The WHS a revocable beneficiary of an existing policy
In this case, you would still have the option of naming another beneficiary at a later time.
4. Designate the WHS as the beneficiary of an Employees Group Benefits Plan
5. Designate The WHS as a joint beneficiary for a partial amount
For example, you might choose to indicate the The WHS is to receive 20%
6. Designate your estate as the beneficiary of the proceeds of your life insurance policy
Your estate will receive a charitable tax receipt equal to the direct benefit to The WHS
For more information
Email Sharon at [email protected] or call 204-982-2033