Life insurance

A gift through life insurance provides a way for you to make a more substantial gift to Diabetes Canada than you might have thought you could afford, at a relatively low cost.

Benefits

• Makes a larger gift affordable.
• Does not diminish your estate.
• Provides proceeds to Diabetes Canada that are not reduced by taxes or other fees.

How it works

• Use an existing policy which is no longer needed for protection, or purchase a new one.
• Name Diabetes Canada as both owner and beneficiary of the policy.
• The change of ownership/change of beneficiary sequence is very important; be sure to consult your insurance/financial advisor before doing it.
• Choose permanent insurance, which builds cash value over time.
• Consider the benefits of accelerated funding of your insurance gift.
• There are tax advantages when you make Diabetes Canada both the owner and beneficiary of a new or existing policy. You are eligible for a tax receipt for the premiums that you pay annually. If you donate an existing policy, you receive a tax receipt for the cash-surrender value less any outstanding policy loans.

Please note: The information provided is general in nature and not intended to be a substitute for professional legal and/or financial planning advice. Diabetes Canada encourages all donors who are planning a significant gift to consult with their family and seek independent legal and/or financial planning advice.