Making a Planned Gift through a life insurance policy allows you the ability to give a larger gift than you may have thought possible, and provides you with significant tax credits. The many advantages of this type of gift include:
- The ability to make a major donation, making a positive and significant impact at a very modest cost.
- It entitles you to receive a tax receipt for any cash value of the policy, and for paid premiums when the ownership is irrevocably assigned to the Foundation.
- Your gift remains outside of your estate and does not affect other assets for loved ones. It does not inflate the size of your estate and therefore estate settlement costs are reduced.
We advise that you speak with your family, financial planner or estate lawyer to see if this gift of life insurance is a suitable way for you to make a larger gift than you may have thought possible to CDF.