Gifts of Life Insurance
Aerial view of Port Joli, NS, showing its white sandy beach and aquamarine waters (Photo by Mike Dembeck)
A gift of a life insurance policy is a way for a donor to make a considerable future gift to the Nature Conservancy of Canada with a relatively small annual financial contribution. Life insurance is a great tool for tax and estate planning in order to maximise your gift for conservation while reducing taxes and leaving more to your family and loved ones.
You can transfer a new or existing Life Insurance policy to the Nature Conservancy of Canada and you will receive a tax receipt for the value of the policy and any premium payments; or if you prefer to retain the ownership of the policy you can name NCC as a beneficiary and your estate will receive a tax receipt helping to reduce or eliminate the taxes.
Benefits of a gift of life insurance
- Affordable annual premiums, which convert to a large gift for conservation
- You receive a charitable tax receipt based on the way the insurance was gifted
- Gifts of life insurance are not included in probate
- Depending on your current financial, personal and tax situation, there are many strategies you can implement to achieve your personal goals and leave a significant legacy for nature
A life insurance policy can be a valuable asset to donate which generates tax savings today.