A gift of life insurance

A gift of life insurance is an affordable way to make a significant future gift to The Arthritis Society.

You may name The Arthritis Society as the beneficiary of a new or existing life insurance policy. A tax receipt will be issued to your estate for the full amount of funds distributed upon your death. These funds are not subject to probate, as they are separate from your other estate assets.

If you plan on taking out a new life insurance policy, consider naming The Arthritis Society as owner and beneficiary. In this way, you will receive annual tax receipts for the yearly insurance premiums.

You may also transfer ownership and beneficiary designation to The Arthritis Society of any existing partially or completely paid-up policies, if these have finished serving their original purposes. You’ll receive a tax receipt for the cash value, and tax receipts will also be issued annually for the future premiums you pay on the policy.

The benefits of gifting life insurance are:

  • tax savings today
  • your estate is not diminished to your heirs (because life insurance, by its nature, creates a separate “estate”)
  • it is not subject to probate fees or delays in settlement - the full proceeds are payable to The Arthritis Society at maturity or death (probate fees do not exist in Quebec)
  • you can plan, arrange and announce the gift yourself and you will know that it will occur just as you planned
  • it is not a matter of public record; it cannot be contested, unlike a Will 

How to make a gift of life insurance

We recommend that you discuss your gift intentions with a life insurance agent and your financial planner. They can help you determine which type of insurance best suits your needs. When you are ready to proceed, get in touch with our Planned Giving team. We’ll be pleased to assist you in completing your gift. 

A Gift of Life Insurance

Want to know more about gifting life insurance? Hear Judy's Story, a supporter of The Arthritis Society

Talk to Us

Speak to someone about your giving options.

Sandra Dow
Vice President 
Philanthropic Giving
1-844-979-7228
sdow@arthritis.ca
 
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