Gifts of Life Insurance

A gift of life insurance is a simple way to make a substantial gift to Cystic Fibrosis Canada. Simply name Cystic Fibrosis Canada as the beneficiary, or owner and beneficiary, of a new or existing life insurance policy.

Even a small commitment can provide significant benefit to people with cystic fibrosis.

Advantages

• A gift of life insurance does not reduce the value of your estate for your loved ones
• Life insurance proceeds are paid directly to Cystic Fibrosis Canada and are not subject to probate fees

Options

• You can purchase a new policy, naming Cystic Fibrosis Canada as the owner and beneficiary. You then pay the premiums and receive a charitable income tax receipt annually for all future premium payments.
• You can donate an existing paid-up policy that has outlived its original purpose, by designating Cystic Fibrosis Canada as the owner and beneficiary. We will give you a tax receipt for the net cash surrender value and any subsequent premiums paid.
• You may make a gift of an existing policy, on which premiums are still being paid, by transferring ownership to Cystic Fibrosis Canada and receive charitable tax receipts for all future premium payments.
• You may also choose to retain ownership of your policy and name Cystic Fibrosis Canada as the direct beneficiary and, upon your passing, your estate will receive a tax receipt for the value of the policy.

We recommend you discuss your gift intentions with your Life Insurance Company or financial advisor to determine which type of insurance best suits your needs. When you are ready, we would be pleased to assist you in completing your gift.

For more information, call 416-485-9149 or 1-800-378-2233 ext. 294 or e-mail the Campaign & Major Gifts Specialist.

The information provided on this Web site is general in nature and is not intended as legal or tax advice. Cystic Fibrosis Canada can help you realize your wish to support cystic fibrosis research and care in Canada by working with you and your financial and/or legal professional advisors.

Reviewed/updated: 2011-02-04