Life Insurance Policies

Give a gift of life insurance

A gift of life insurance is an inexpensive way to create a significant legacy at the World Heritage Foundation. Such gifts are made by transferring ownership of an existing or new policy to WHF. You receive a tax receipt for premiums paid after the date of transfer. You can also name WHF as beneficiary of your policy - the resulting tax credit will reduce estate taxes and increase the after-tax value of your estate for other beneficiaries.

A gift of life insurance is an affordable way to make a difference. A modest annual premium paid over time will result in a significant future legacy.

Ways of gifting life insurance to WHF:

  • Donate an existing policy and receive a tax receipt for the net cash surrender value (less any outstanding policy loans) and any premiums paid after date of transfer of ownership to WHF. A portion of the cash value could be taxable but would be offset by the donation receipt tax credit
  • Donate a new policy and receive a tax receipt for any premiums paid after the date of transfer of ownership to WHF.
  • Assign WHF as the beneficiary of your policy, or the life insurance policy from your employer, and your estate will receive a tax receipt equal to the death benefit proceeds paid directly to the university

Benefits of making a gift of life insurance to WHF:

  • Receive a tax receipt based on the way the insurance was gifted
  • Avoid probate. Gifts of life insurance are less susceptible to being contested than a charitable bequest, and provide privacy
  • Designate your gift to a project of the foundation that meets your interest, such as to a project in a specific country or programs.

How gifts of life insurance benefit WHF:

  • Your gift of life insurance will create a Heritage of Hope for future generations.