When you give Niagara Health Foundation a new or existing life insurance policy, you turn small monthly premiums into a significant gift.
The insurance benefit will eventually be paid directly to Niagara Health Foundation and is separate from your estate, so there are no administrative costs or probate fees. In addition, your gift does not affect your estate’s assets, and you will receive a charitable tax receipt that may be used in your lifetime or for your estate.
Ways to donate life insurance:
- Name Niagara Health Foundation as the beneficiary of a policy. Your estate receives a tax receipt for the proceeds of the policy.
- Transfer ownership of a paid-up policy with Niagara Health Foundation named as the beneficiary. You can receive a current tax receipt for the policy’s fair market value or defer the tax receipt for your estate.
- Transfer ownership of a partially paid-up policy with Niagara Health Foundation named as the beneficiary. You will get a tax receipt for the policy’s fair market value and annual tax receipts for your ongoing premium payments.
- Take out a new policy with Niagara Health Foundation as the owner and beneficiary, and receive annual tax receipts for your ongoing premium payments.
To make a gift of life insurance, contact us and your insurance provider to transfer ownership of a policy, take out a new policy, or change the policy beneficiary to Niagara Health Foundation.
For further information about planned giving contact:
Franca Palummieri
Development Officer, Planned Giving
905-378-4647 x 44280 or franca.palummieri@niagarahealth.on.ca
