A future gift
A gift using life insurance can be a flexible means of arranging a significant gift for a relatively modest cost. There are many ways to donate using life insurance and a few of them are listed on the link below. We would be pleased to work with your advisors to create a gift plan that responds to your needs.
Using a new policy
You can purchase a life insurance policy and immediately name DMRF as owner and beneficiary. Thereafter any premium payments you make will be considered a charitable donation and qualify for a tax credit. Alternately, if you retain ownership of the policy but name DMRF as beneficiary the premium payments will not attract a tax credit. On your death DMRF will issue a tax receipt for the death benefit of the policy that your executor may use on your final tax return.
An annuity and insurance may be combined to allow you to increase your income, make a gift and ensure your heirs are not disadvantaged. The purchase of an annuity often substantially increases your after tax income. Some of this increase may be used to purchase an insurance policy owned by and payable to DMRF. As above, the premiums will qualify for a tax receipt reducing the cost of the insurance.