Gifts Of Life
Insurance Calculator
Our custom-built Financial Calculators are designed to help professionals determine the tax impacts of making various charitable gifts.

Life Insurance
Purchase a Life Insurance Policy and Donate Proceeds on Death
Purchase a life insurance policy and leave a bequest in your will equal to the proceeds of the policy.
Enter the sex, age, life insurance proceeds and annual premiums, then the Calculator will calculate the tax savings from the donation.
A federal tax rate of 27.56% is used for taxable income greater than or equal to $253,415.
A federal tax rate of 24.22% is used for taxable income less than $253,415.
A Quebec tax rate of 25.75% is used for taxable income greater than or equal to $129,591.
A Quebec tax rate of 24.00% is used for taxable income less than $129,591.
Assumptions:
- The donor is a Quebec taxpayer.
- The full amount of the donation will be eligible for a tax credit at the given rate.
- Life expectancy used in the “Charitable Remainder Trust” and “Gifts of Life Insurance” scenarios are based on Statistics Canada most recent data.
The Calculator is provided as an aid only and a donor should consult with a professional advisor before making a gift.
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