Gift from Life Insurance

There are several ways you can use your life insurance policy to support Next Chapter for Divorcing Families Society.

1. Assign ownership of a fully paid policy to Next Chapter for Divorcing Families Society. A charitable tax receipt will be issued for the cash surrender value of the policy at the time the gift is made.
2. Assign ownership of a life insurance policy on which premiums remain to be paid to Next Chapter for Divorcing Families Society. A charitable tax receipt will be issued for the cash surrender value of the policy at the time the gift is made, and annual receipts for ongoing premiums paid.
3. Name Next Chapter for Divorcing Families Society as a primary or successor beneficiary of the policy proceeds. A charitable tax receipt will be issued for the value of the death benefit received, and may be used to offset estate taxes in the year of death.
4. Purchase “wealth replacement” insurance. Make a philanthropic contribution to Next Chapter for Divorcing Families Society. A charitable tax receipt will be issued for the value of the donation. You may then use the tax savings to purchase a life insurance policy for the value of the donation, naming your heirs as beneficiaries. The proceeds of the policy will not be included in your estate for probate purposes and are payable tax free to your heirs as part of their inheritance. This option ensures that your estate is not diminished.

Donors are encouraged to consider the needs of family first and to consult with their advisors to be sure their gift considers overall tax and estate plans.