You can purchase a new policy, name HART as the owner and the beneficiary, maintain the policy by paying the premiums and you will receive a donation receipt for the premiums paid annually. At your passing, a significant gift would go to HART.
Or you could name HART as a beneficiary or co-beneficiary of that new policy or any existing policy. At your passing, the life insured amount would go to HART and your estate would receive a donation receipt to be used as a tax credit.
You can donate an existing policy that you had purchased previously and name HART as owner and beneficiary. Rather than cancel that policy, you can maintain it by paying the premiums and you will receive a donation receipt annually for the premiums paid. That donation receipt in turn can generate a tax credit to offset taxes.
If that existing policy has a cash surrender value, the charity could cash it in and issue you a donation receipt that can be used to generate a tax credit.
Do not hesitate to contact us for more information and then talk to your financial adviser or agent about the value of using life insurance to leave a legacy that will last into eternity.
