A gift of life insurance is an affordable way to create a significant legacy. There are two possible ways to give a gift of life insurance:

• By transferring ownership of an existing or new policy to WCS Canada, you will receive a tax receipt for premiums paid after the date of transfer, benefiting from the tax credit during your lifetime.
•  You can name WCS Canada as a beneficiary of your policy. The resulting tax credit will reduce estate taxes and increase the after-tax value of your estate for other beneficiaries.

Benefits to You:

Simplicity and Convenience: The transaction is simple. Your life insurance specialist can advise you on the type of policy that would best fit your needs, custom design your program, and carry through with the necessary paperwork.

Leverage and Estate Preservation: Make a larger gift than you might otherwise be able to do, without impacting your current assets or your estate later. The eventual value of your policy will be far greater than the premiums you pay and is not part of your estate.

Save Taxes Today: Depending on arrangements you may receive charitable tax receipts for the premiums paid or the policy’s cash value (Option A).

Eliminate Probate, Legal, and Executor Fees: Life insurance is not subject to probate costs or delays in settlement. The full proceeds are payable to WCS Canada, at maturity or upon death.

Control: Life insurance is not a matter of public record and allows you to remain anonymous, should you choose. Unlike a will, the gift cannot be contested.

For more information on leaving a legacy gift of any kind, contact Forough Shafiei, Fundraising Manager at supportwcscanada@wcs.org.

All information on this page is general in nature, does not constitute legal or financial advice, and should not be relied upon as a substitute for professional advice. We strongly encourage you to seek professional legal, estate planning and/or financial advice before deciding on your course of action.