The gifting of life insurance to registered charities has always been a popular method for individuals to fulfill their philanthropic goals, and worth considering when it comes to a charity that is near and dear to your heart.
There are basically two options when donating life insurance to a charity: donate a policy while one is alive or make the registered charity a beneficiary of the policy. The option selected will depend on many factors.
If you make ...
It’s more important than you think
Naming a beneficiary is a valuable feature of life insurance and segregated funds policies so it is important to carefully choose your beneficiaries.
Estate – the default choice
Many people choose to name their “estate” as their beneficiary. Although this is an easy short-term solution, it is important to review the risks of doing this. If you are st...Continue