The Jewish Community Foundation of Montreal

Create a lasting legacy at a fraction of the cost

In Canada, insurance can be given as a charitable gift, and you receive immediate tax benefits.

gifts-of-insurance-charity-donations-jewish-montreal-foundation

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 often negligible or nil. The insurance policy is often 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 Appear gift?

Yes. No gift touches more Jewish lives than a donation to the Combined Jewish Appeal. A centennial campaign gift aimed to create a lasting giving legacy will create a $5,000 annual CJA gift as per the illustration above.

SCHEDULE A CONSULTATION

If you think a gift of insurance might be right for you, or if you’d like to arrange a meeting and explore your options, contact us at 514.345.6414 or fill out the form below to get started.

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FIND OUT HOW SMART PHILANTHROPY CAN WORK FOR YOU

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