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Charitable Life Insurance
Life insurance is an excellent planned giving method.
The premium payments are reasonable and offer favourable
tax advantages. In addition, the death benefit can produce
a significant resultant gift for the Foundation.
There are several ways in which a life insurance policy
may be donated:
- You donate an existing
policy to the Foundation, with the Foundation designated
as the owner and the beneficiary.
- You purchase a new
life insurance policy and designate the Foundation
as owner and sole beneficiary.
- You purchase a policy in your name, designate
your estate
as the beneficiary, and in your will,
name the Foundation to receive the proceeds of the policy.
You may choose to have your donation be placed with other
unrestricted donations for the general use of the Foundation.
This option provides the YMCA with the greatest flexibility
to meet future needs. Or you may decide that you wish your
donation to be placed in one or more of the named
funds available with the Foundation.
Your donation with a minimum cash surrender value of
$10,000, you could create a new fund, to be named by you,
for a specific purpose. Your gift also qualifies for membership
in the YMCA’s Heritage
Club.
The Foundation will need documentation and direction documents,
to comply with income tax regulations and to ensure that
your specific wishes are recorded.
To join the Heritage Club by giving a gift of life insurance,
please complete the following:
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