A sure thing
A gift of life insurance is an affordable way to make a real difference. A modest annual premium, paid over time, can result in a significant future legacy.
Three ways to donate life insurance:
- Donate an existing policy: receive a charitable tax receipt for the net cash surrender value and any premiums paid after the donation date.
- Donate a new policy: receive a charitable tax receipt for any premiums paid after the donation date.
- Assign U of T as the beneficiary of your individual or workplace insurance policy. Your estate receives a charitable tax receipt.
Benefits of a gift of life insurance:
- Affordable annual premiums, which convert to a large gift to the University.
- You receive a charitable tax receipt based on the way the insurance was gifted.
- Gifts of life insurance are not included in probate.
Example: New policy naming U of T as Owner and Beneficiary:
A donor takes out a new life insurance policy for $125,000 naming the University of Toronto as owner and beneficiary of the policy. The donor’s annual premium of $1,050 has an approximate after-tax cost of $525.00 per year. The legacy to U of T – $125,000
The King's College Circle Heritage Society recognizes alumni and friends who have remembered the University through a provision in a will or other form of planned gift.
If you have left a gift in your will, please let us know.