What are gifts of life insurance?
Gifts of life insurance are a practical way to leave a planned gift to support people living with epilepsy in Ontario. Gifts of life insurance are second only to bequests in terms of popularity as legacy gifts.
There are two ways to give a gift of life insurance:
- You can make Epilepsy Ontario the owner and beneficiary of an existing or a new life insurance policy.
- You can name Epilepsy Ontario as a beneficiary of a new or existing policy.
Each has advantages and your financial planner can advise you on which best suits you.
There are many advantages to creating a legacy through a life insurance policy:
- You can create a sizeable future gift through a small annual gift.
- Tax relief in the form of charitable tax receipts for cash value and/or premiums paid (depends on policy structure and ownership).
- It doesn’t reduce the value of your estate for your heirs.
- Passes outside the estate settlement process—the proceeds are paid directly to Epilepsy Ontario, thereby not subject to probate and estate fees.
- It’s easy to do with help from a financial planner.
- You can choose from a full range of products, price ranges, and payment periods to suit your circumstances.
How may I arrange for a life insurance gift?
- Collect information and call your financial planner,
- Create a life insurance policy that suits your needs, naming Epilepsy Ontario as the beneficiary (and owner, in some cases) and
- Contact Epilepsy Ontario so we may thank you for your generosity.
If you have already created a legacy gift and you wish to let us know about your gift, please take a moment to contact us. Any information you provide will remain strictly confidential.