Most of us own some type of life insurance. But did you know that life insurance can be gifted to make a difference for the charities you care most about?
How Can my Life Insurance Policy Make a Difference?
There are a few ways to turn a life insurance policy you no longer need into a donation that will make a world of good:
A New Policy:
You can name the YWCA Peterborough Haliburton as the owner and beneficiary of a new insurance policy. As you contribute to your policy, you will receive donation receipts for the value of all premiums you pay.
If you already have a policy and would like to donate it, there are a few options:
- You can name YWCA Peterborough Haliburton as the owner and beneficiary of the policy. The ownership will be transferred and you’ll receive a donation receipt for the current value of the policy plus the value of future premiums you pay. This is non-revocable.
- You can name YWCA Peterborough Haliburton as the beneficiary of the policy. In this case you will retain ownership of the policy and your estate will receive a donation receipt for the value paid to us upon your passing. This gift option is revocable.
Why Life Insurance?
- It’s a great way to increase the size of your gift to YWCA Peterborough Haliburton.
- It doesn’t impact the amount of cash or savings you have access to during your lifetime.
- Tax savings can be realized annually or in the year of death. You can decide how you want to arrange your gift, depending on your personal goals and tax needs.
- Life insurance policy benefits are paid to beneficiaries after your lifetime. They aren’t subject to additional fees, aren’t subject to Will challenges and are paid quickly – ensuring your gift is used exactly as you intended.
Please consider sharing your intention to leave a legacy to YWCA Peterborough Haliburton. We can help you plan your legacy so that it will do the most possible good long into the future when it’s received. We would also like to thank you appropriately and offer you meaningful recognition options should you wish.
For Assistance or To Learn More
If you would like more information about the types of legacy gifts, tax benefits of various gift types and recognition available, please contact:
Tina Thornton, Director of Philanthropy