Have you considered a gift of life insurance?
Making a gift of life insurance is a way to leave a legacy gift with minimal impact on your current finances.
A gift of life insurance is an excellent way to turn small current payments into a larger future gift, which will result in a stable source of income for the Cancer Foundation for years to come. Gifts of life insurance can also provide significant tax savings either in your lifetime, or for your estate.
If you have a life insurance policy that you either no longer require, or that has been fully paid for, you can give it as gift by making the Cancer Foundation the owner and beneficiary of the policy. If you’re considering purchasing a new policy, you can also make the Cancer Foundation either the owner or beneficiary of the policy.
There are other ways that you may consider leaving a legacy gift. If you have an RRSP, RRIF or pension, you likely have a beneficiary named. Just like with life insurance policies, you can name the Cancer Foundation as the first or second beneficiary to one of these investment vehicles.
We have put together some information about gifts of life insurance, RRSPs and RRIFs that we hope will be helpful for you as you make your decision about giving a legacy gift to the Ottawa Regional Cancer Foundation. After you read the materials, we suggest that you speak with your financial professional and life insurance broker to determine if this is an option that is best for you and your family.