A bequest of life insurance can provide a significant future gift to the Society at an affordable present cost to the donor. You may make such a gift with either an existing policy or a new one. You may donate the death benefit of an existing policy simply by naming the Society as the beneficiary. To receive a current tax benefit, however, you must also transfer ownership of the policy to the Society. This entitles you to a donation receipt for the cash value of the policy. When you make the Society the owner and beneficiary of a policy, you receive a donation receipt for every premium you subsequently pay. At your death, the Society will receive the proceeds.
This is an arrangement under which you irrevocably transfer property (cash, securities or real estate) to a trustee, usually a trust company. You retain the right to the income from the trust, either for life or for a specified term of years. At the end of that time, the residual capital is payable to the Society. When you establish the trust, you receive a charitable donation receipt for the value of the remainder interest.