Gifts of life insurance
Life insurance is one of the ways you can provide financial security for your family and your loved ones. A life insurance policy can also serve as a financial security for your favourite charity.
WAYS YOU CAN USE LIFE INSURANCE TO SUPPORT VILLA CATHAY CARE HOME
- Designate Villa Cathay Care Home Society as the beneficiary of your policy
You can use a life insurance policy to make your gift simply by designating Villa Cathay Care Home Society as the beneficiary of the policy. The insurance proceeds will be received by Villa Cathay Care Home tax-free and your estate will receive a donation receipt.
- Transfer ownership of a paid-up policy to Villa Cathay Care Home Society
To receive an immediate donation receipt, you can make Villa Cathay Care Home the beneficiary and owner of an existing paid-up policy. You will receive a donation receipt for the fair market value of the policy at the time of donation and Villa Cathay Care Home may either redeem the policy or hold it and receive the face value after your death.
- Transfer ownership of a policy on which premiums are still owing
You can transfer ownership of a policy to Villa Cathay Care Home Society even if premiums are still owing. You will receive a donation receipt for the policy’s fair market value at the time of donation. If you continue to pay the premiums after transferring ownership of the policy, you will receive donation receipts for those payments too.
Contact your financial advisors for personalized advice on how a gift of life insurance can work for you. You gift of insurance make a difference today through thoughtful planning for tomorrow.
Donate a TFSA, RRSP or RRIF
When you support Villa Cathay Care Home Society with a future gift, you are helping to ensure that Villa Cathay can have the resources required to bring the best possible care for seniors for generations to come.
It’s easy to donate the proceeds of a registered account such as a tax-free savings account (TFSA), a registered retirement savings plan (RRSP) or a registered retirement income fund (RRIF).
- Make a significant donation without spending current assets
- Receive a charitable tax receipt for your estate
- Avoid paying probate fees on the funds
- Know that you can make a long-term benefit for vulnerable seniors
How to donate:
- Name Villa Cathay Care Home Society as the beneficiary of your registered account
- Maintain full use of your account during your lifetime
- After your passing, Villa Cathay Care Home will receive any remaining funds from your registered account
To make a donation, please contact us today by phone at 604-215-3548 or by e-mail at [email protected].