Life insurance is an advantageous and
inexpensive way to create a legacy. When you purchase a new policy naming a
charity as owner and beneficiary, you will receive a tax receipt for the full
value of the annual premium payments.
You could also transfer an existing policy and name the charity as owner. At the time of transfer you are entitled to a current deduction equal to the net cash value of the policy. All future premium payments, when paid, would be a current tax deduction.
The reasonable cost and tax benefit make life insurance a particularly appealing approach for some donors.
cost and tax
life insurance a particularly
appealing way to
create a legacy.