Ways to JoinPay modest premiums now to make a significant gift in the future.
Naming the Joseph Brant Hospital Foundation as a beneficiary or owner of a new or existing life insurance policy is another cost effective way to support the future needs of our Hospital.
Your modest premium payments today can turn into a significant gift to the Joseph Brant Hospital Foundation in the future. Not only are you ensuring your legacy of support continues even after your death, you also receive a sizable tax savings either now, or on your estate depending how you structure the policy.
There are several ways to make a gift of life insurance. You can:
- Establish a new policy that designates the Joseph Brant Hospital Foundation as the owner and beneficiary. You can claim any and all premium payments as a charitable donation on your tax return. The Joseph Brant Hospital Foundation will issue you an annual tax receipt for the premiums paid on the policy.
- Name the Joseph Brant Hospital Foundation as a beneficiary on your existing insurance policy. Your estate will receive a charitable tax receipt for the full value of the policy.
- Donate an existing life insurance policy by transferring ownership to the Joseph Brant Hospital Foundation. This entitles you to receive a tax credit for the cash surrender value of the policy at the time it is donated, along with tax receipts on any future premium payments.
- Donate a fully paid policy you no longer need. The Joseph Brant Hospital Foundation will issue you a tax receipt for the fair market value of the policy or defer the tax receipt for your estate.
For more information, please contact Ashley Davidson, Director of Major Gifts, at 905-632-3737 ext. 3474 or at email@example.com