This allows you to make a gift to the University Hospital Foundation, while at the same time securing guaranteed income for life. A portion of your donation will be used to purchase a commercial annuity from an insurance company that will pay the amount promised to you. While you receive guaranteed income for the rest of your life, the University Hospital Foundation retains the balance of your gift to fund the highest priority healthcare needs at the University of Alberta Hospital.
A gift of life insurance, whether it’s an existing policy or a new one, can turn your small monthly premiums into a significant donation. The insurance benefit will eventually be paid directly to the University Hospital Foundation and is separate from your estate, so there are no administrative costs or probate fees.
Working with your financial planner, you can set up a life insurance gift by transferring ownership of an existing policy, creating a new one or changing the beneficiary to the University Hospital Foundation. Your gift will support the future of healthcare in Alberta, while you enjoy the tax benefits in your lifetime.
The following are sample clauses but we recommend consulting with a lawyer or financial planner before including a charitable organization in your will.
Canada offers some of the most generous tax incentives for charitable giving in the world, making it easy for you to give.
When he was 43, Michael Lifeso had a heart attack. Shortly after his recovery, his lungs began to fail – eventually to the point where they stopped working. His parents, Clayton and Betty, were told their son did not have long to live.
© 2024 University Hospital Foundation. All Rights Reserved.