Gift of a Life Insurance Policy
A gift of life insurance is a smart option for making a substantial donation at a relatively low cost. The ways your life insurance policy may be contributed include:**
- purchasing a new policy and naming Mount Royal as the owner and beneficiary. As the donor, you pay the premiums and receive an annual charitable tax receipt for the full value of the premiums; or
- designating Mount Royal as the beneficiary and owner of an existing policy you no longer require. The tax receipt is issued for the current cash surrender value of the policy and for premiums paid after the date of transfer.
**Please note: information provided is of a general nature and is not intended to constitute advice to any particular person. Please consult your financial and/or legal advisor(s) before arranging and finalizing a planned gift. Mount Royal will keep all requests for information confidential. A request for information does not obligate the requestor to make a gift to Mount Royal.