Life Insurance - A gift of life insurance is an excellent way to provide a legacy gift to Canuck Place

• By giving through life insurance you can:
• Make a substantial gift for a relatively small premium.
• Become a major benefactor immediately, rather than waiting years to make your gift from accumulated assets.
• Gain present and future tax benefits and guarantee the value of your gift will not be reduced by taxes, probate or administrative costs.
• Make a significant gift that is considered independent of your estate, and therefore cannot be challenged.

Life Insurance Options:

Transfer ownership of an existing, fully-paid policy.  If you have a fully paid up policy that is no longer required to meet your family’s financial needs you can transfer ownership to Canuck Place and name it the beneficiary.  You will receive a donation receipt for the cash surrender value immediately, just as if you made a cash donation.

Sign over a partially-paid policy. When you transfer ownership of a policy that is partially paid and name Canuck Place as beneficiary, you will receive a tax receipt for the cash surrender value.  You will also receive a tax receipt for your payments of the annual premiums.

Purchase a new policy and make Canuck Place the owner.  When you make Canuck Place the owner and beneficiary of a policy, you are entitled to tax receipts for premium payments.

Make Canuck Place the beneficiary of your policy without transferring ownership.  The proceeds of the policy will be paid to Canuck Place immediately upon your death.  Your estate will receive a charitable tax deduction for the amount of the insurance policy.

How to Proceed:

Step 1: Determine which type of insurance would best suit your estate plan and philanthropic intent.  The type of insurance is dependent on your need for immediate tax relief or for saving taxes on your estate.

Step 2: Work with your insurance agent to complete the forms with the correct name and charity number as listed below.  Canuck Place participates in the Charity Life Direct Insurance Program. - click here to learn more or subscribe on-line.

Legal Name:   Canuck Place Children’s Hospice Foundation
Charitable registration number:           8637 04920 RR0001

Step 3: If you choose to transfer the ownership of an insurance policy to Canuck Place Children’s Hospice Foundation, please provide your insurance agent with contact information for the Canuck Place Children’s Hospice Foundation Your agent will then obtain the signature of a Canuck Place Children’s Hospice Foundation representative.

We welcome the opportunity to discuss life insurance as a gift planning tool with you.   To speak to someone personally and confidentially, please contact us.

For other Legacy Giving options, such as donating publicly traded securities and leaving Canuck Place in your will - click here