• Introduction
• Wills & Bequests
• Gifts of Life Insurance
• Charitable Remainder Trusts
• Gift Annuities
• Gifts in Kind
• Securities
• RRSPs/RIFFs
• Unrestricted
• Endowments

Development - Gifts of Life Insurance

Donating a life insurance policy can be a very attractive method of charitable giving. There are two ways to donate using life insurance:

Purchasing a new policy:

You may purchase a new policy and designate Athol Murray College of Notre Dame as its Owner and Beneficiary. Income tax receipts will be issued for the full amount of the premiums paid.

Using an existing policy:

You can transfer ownership of an existing policy to Athol Murray College of Notre Dame and also designate the College as the policy's beneficiary. In this case the College will issue a charitable receipt for the policy's cash surrender value, plus any accumulated dividends and interest. Moreover, if you are still paying premiums, the additional premiums are treated, as gifts to the College and you will receive charitable receipts equal to the premiums paid. Another option to consider that provides your estate with a tax advantage is to name your estate as the beneficiary of the policy and then provide in your Will for Athol Murray College of Notre Dame to receive the amount equal to the death benefit. Your estate will receive a donation receipt for the full amount of the bequest. This will result in a tax credit which, in turn, will result in more of your estate going to your heirs and less going to taxes.