Life insurance

It's easy to make a donation through life insurance!

As a part of our Legacy of Hope program, you can also make a donation through life insurance.

Life insurance can be an excellent way for you or your estate to make a significant gift to Development and Peace – Caritas Canada over the long term while providing certain tax benefits without compromising the rights of your heirs or incurring additional costs.

You have three options:

  • You set up a new life insurance policy and name Development and Peace – Caritas Canada as the owner and irrevocable beneficiary. This will enable you to make a significant gift while spreading out your payments.
  • You take out life insurance while retaining ownership of a policy and designating Development and Peace – Caritas Canada as a beneficiary, in whole or in part, upon your death.
  • You transfer ownership of a policy to our organization irrevocably. This is an attractive option if you no longer need the protection provided by your life insurance policy. At the time of transfer, if your payment is completed, the organization will give you a receipt for the fair market value of your policy. If payments are not completed, you will receive a tax receipt for each future premium.

The benefits for you or your estate

Gifts of life insurance policies are an excellent way to make a substantial gift.

By designating Development and Peace – Caritas Canada as an irrevocable beneficiary, each year you will receive a tax receipt for premiums you have paid. If you retain ownership of your policy, upon your death your estate will receive a charitable tax receipt for the value of the insured death benefit and benefit from tax advantages.

It is essential to consult with an appropriate professional (financial planner, insurance broker) to help you determine the best options available to you to take full advantage of the tax benefits for your situation.

Interested in this kind of donation?

Do not hesitate to contact :

Joan Gauthier
Philanthropic Development Director

Joan.Gauthier@devp.org
T.: 514 257-8710, ext. 315
Toll-free: 1-888-234-8533, ext. 315

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