Gifts of Insurance
A gift of life insurance is simple, thoughtful and often overlooked way to make a gift to Gillian’s Place. Insurance allows you to make a substantial gift without taking on a large expense.
By taking out a new life insurance policy, and naming Gillian’s Place as owner and beneficiary, you will receive tax receipts for the annual premiums you pay. Existing policies that have finished serving their original purposes can have the ownership and beneficiary designation transferred to Gillian’s Place. A tax receipt is then issued for the cash value.
The advantages to you are:
A planned gift of life insurance saves you tax dollars today. Not only is this important to a donor who is looking for immediate tax relief, it also means that you can make sure that the tax-deductible limit is not exceeded. Your estate is not diminished to your heirs, because life insurance by its very nature, creates an additional, separate ‘estate’.
Life insurance is not subject to probate costs or delays in settlement. The full proceeds are payable to Gillian’s Place at maturity or death.
Life insurance is not a matter of public record. You can plan, arrange, and announce the gift yourself and you will know that it will occur just as you planned.
Unlike a will, the gift cannot be contested.
Allows you to contribute significantly to Gillian’s Place.
We recommend you discuss your gift intentions with a life insurance agent to determine which type of insurance best suits your needs. When you are ready to proceed, we would be pleased to assist you in completing your gift.
For more information, we invite you to contact Gillian’s Place to help answer any questions you may have.