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Many people see life insurance as having only one purpose— to take care of their family’s needs in the case of their death.

 

Establishing a gift of life insurance can make a lot of sense to a number of people, however:

 

Younger people can purchase a life insurance policy for a comparatively low cost.

 

An older person with a policy that they’ve held for many years—perhaps even paid up—but which is no longer needed for family security, could change the beneficiary to their favourite area of the Church’s work:  their congregation, the Mission and Service Fund, the United Church of Canada Foundation, an outreach ministry.

 

Some create a life insurance gift instead of a bequest in their will as part of their estate plan.  The insurance proceeds go directly to the beneficiary, leaving their full estate intact for their loved ones.

 

If the Church is made the owner of the policy as well as the beneficiary, the donor receives a charitable donation receipt for the premiums they pay which can offset the cost by reducing their income tax.  (In this case no donation receipt is issued to the donor’s estate.)

All in all, creating a life insurance gift is another win-win situation for the donor, and for the United Church.

 

 

Kathryn Hofley

Financial Development Officer

2438 - 85 Garry Street

Winnipeg, MB     R3C 4J5

Phone: (204) 943-4844

 

Find us on the web at:

www.united-church.ca/getinvolved/donate/howto/planned

 

 


"God gave us memory that we might have roses in December" - James M. Barrie