Gifts of Life Insurance
Make a large and lasting gift at a small cost
A gift of life insurance is an affordable way of making a significant donation in support of the MUHC while also preserving assets intended for your family and loved ones. You can make this type of planned gift by contributing relatively small monthly or annual payments during your lifetime. Ultimately, your donation to the MUHC Foundation will have a large impact on the future of healthcare.
Depending on your current situation, you can choose from one of five ways to make a gift of life insurance:
- Use an existing policy or create a new policy to make a donation
If you are seeking tax relief during your lifetime or for your estate, consider making a gift using life insurance to ensure that a smaller current cash investment is leveraged into a more significant future gift. We will issue a tax receipt so that you or your estate will benefit from tax savings.
- Donate a paid-up life insurance policy
That has now outlived its original purpose by naming the MUHC Foundation the owner and beneficiary of your policy and receive an immediate tax receipt for the cash surrender value of the policy.
- Gift an existing policy
On which premiums are still being paid by transferring ownership to the MUHC Foundation and receiving tax receipts for all future premium payments.
- Make a gift by purchasing a new policy
Naming the MUHC Foundation as the owner and beneficiary and receiving tax receipts for all future premium payments.
- Choose to retain ownership of your policy
And name the MUHC Foundation as the direct beneficiary and upon your passing, your estate will receive a tax receipt for the value of the policy.
For more information about how to make a gift of life insurance, please contact Kim Cavener, Manager, Strategic Giving at 514-934-1934, ext. 71852 or firstname.lastname@example.org.
McGill University Health Centre Foundation Charitable Registration Number: 86843 3947 RR0001