A gift of life insurance is a creative way for you to build our long-term financial strength without diminishing your own - even a relatively small commitment can provide significant benefits for the Alzheimer Society of Niagara Region. There are many ways for you to make a gift using life insurance:
- You may donate a paid-up life insurance policy that has now outlived its original purpose by naming Alzheimer Society Niagara Foundation as the owner and beneficiary of your policy and receive an immediate tax receipt for the cash surrender value of the policy.
- You may gift an existing policy on which premiums are still being paid by transferring ownership to Alzheimer Society Niagara Foundation and receiving tax receipts for all future premium payments.
- You may make a gift by purchasing a new policy on your life, naming Alzheimer Society Niagara Foundation as the owner and beneficiary and receiving tax receipts for all future premium payments.
- You may also choose to retain ownership of your policy and name Alzheimer Society Niagara Foundation as the direct beneficiary and, upon your passing, your estate will receive a tax receipt for the value of the policy
A gift of life insurance, by either making the Alzheimer Society Niagara Foundation the owner and beneficiary of an existing policy or purchasing a new policy and making annual premium payments, has many benefits. It allows donors to make a significant gift at a fraction of the value from their disposable income. The annual payments are generally modest and eligible for tax credit, giving annual income tax relief.