The Jewish Community Foundation of Montreal

A larger gift at a low cost

Create a Giving Legacy

A larger gift at a low cost

In Canada, insurance can be given as a charitable gift , and you receive immediate tax benefits. Watch this short video for an explanation on how a gift of insurance works and how you can give a larger gift at a low cost.

Frequently Asked Questions

So, what would it cost me at my current age?

Provide us with your birthdate and that of your spouse and we will be happy to provide you with the financial calculations to show how you can create long term philanthropy at a negligible cost.

I’m a business owner. Do I have any other options?

Yes. In your case the policy can be owned by your company. The company pays the premiums; the proceeds are received by the company, paid out to the estate, and subsequently to the JCF, as per a gift set out in your will. The JCF will provide the estate with a tax receipt for the proceeds, which is very valuable. The net financial cost of doing it in this way is oft en negligible or nil. The insurance policy is oft en a joint last survivor policy with both spouses.

Can you also gift old insurance policies that are no longer needed?

If you have a mature insurance policy you no longer need, don’t cancel it! Consider gifting it to the JCF. Sometimes these policies have substantial values and the gift results in a valuable tax receipt.

Can I use this to perpetuate my Combined Jewish Appeal gift ?

Yes. Federation CJA is celebrating its 100th anniversary. No gift touches more Jewish lives than a donation to the Combined Jewish Appeal. All gift s to the Centennial campaign, which aims to create a lasting giving legacy, will be recognized and fulfill the promise of l’dor v’dor (meaning “from one generati on to the next”). The illustrated example above will create a $5,000 annual CJA gift .

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