Giving a gift of life insurance is another way to make a significant gift at a relatively low cost. There are many ways to do this:
- You may already own a paid-up life insurance policy that has now outlived its purpose. By simply naming the Library Foundation the owner and beneficiary of this policy you will receive a tax receipt now for the cash surrender value of the policy and leave a big legacy for the Library in the future.
- You may choose to retain ownership of your policy but name the Toronto Public Library Foundation as the beneficiary. Upon your passing, your estate will receive a tax receipt for the value of the policy.
- You may gift an existing policy on which premiums are still being paid by transferring ownership to the Toronto Public Library Foundation or take out a new policy with the Foundation as owner and beneficiary. You will receive a tax receipt for all future premium payments. Paying modest life insurance premiums today enables you to provide a sizable gift to the Foundation in the future.
For more information, please contact:
Liza Fernandes, Associate Director Community and Legacy Gifts
789 Yonge Street, Toronto, ON M4W 2G8
Ph: (416) 397-5924; Fx: (416)397-5999;