Gifts of Life Insurance
Donating Life Insurance
With a gift of life insurance, you make periodic premium payments that turn into a major gift toward healthcare in our community.
What are the benefits?
- Because premium payments only happen periodically, a gift of life insurance is an affordable way to make a significant gift.
- our insurance policy isn’t part of your estate, so isn’t subject to probate fees.
- Because your policy isn’t part of your estate, a gift of life insurance does not affect what you planned to leave behind in your estate for loved ones.
- A gift of life insurance can help offset the significant tax burden on your estate.
We recommend that you seek professional advice from your lawyer, accountant, or financial planner to determine the method of giving that will be the most tax effective for you.
How to make this type of gift
How does it work?
There are three ways you can leave a gift of life insurance to the Bruyère Foundation:
- Purchase a new life insurance policy and name the Bruyère Foundation as the owner and beneficiary. The premiums you pay will qualify for a charitable tax receipt.
- Donate an existing policy to the Bruyère Foundation now. You’ll receive a charitable tax receipt for the fair market value of your life insurance policy.
- Name the Bruyère Foundation as the beneficiary of your existing life insurance policy. Your estate will receive a charitable tax receipt when the proceeds are paid to the Bruyère Foundation.