Giving a gift of life insurance is a way to show you care for Toronto City Mission. This type of gift often allows a person of modest means to make a donation much larger than they might have been able to afford during their lifetime. Instead of contributing annually to us, the donor directs funds of insurance premiums and would receive a charitable receipt for each premium payment made. A gift of this type generates immediate and future tax benefits for the donor and does not diminish their estate.
You can transfer ownership of an existing policy to Toronto City Mission. Donors considering the transfer of a life insurance policy should obtain professional advice concerning the income tax consequences of such a transfer.
You can take out a new policy, making Toronto City Mission the owner and/or beneficiary. If Toronto City Mission is named both the owner and beneficiary, you will receive a charitable receipt for paid premiums; if Toronto City Mission is named beneficiary only, your estate will receive a charitable receipt for the full value of the gift.
SEEK EXPERT ADVICE
Toronto City Mission strongly recommends that you consult your lawyer and estate planner regarding specific information on Life Insurance.
Thank you for your interest in supporting Toronto City Mission which has existed since 1879 demonstrating God’s love and bringing hope to families impacted by poverty. For more information on our planned giving program, please call Jackie Davies at 416.922.6223 x 102.