Making a gift of a life insurance policy to the Vic is another way of leaving a lasting legacy. Affordable and accessible to almost everyone, it has the added advantage of enabling you to fulfill your philanthropic wishes while preserving your other assets for your loved ones. It also provides immediate or deferred tax advantages, depending on the approach you take to give the policy.

For example, if you purchase a new policy in which you name the Victoria General Hospital Foundation as the owner and beneficiary, you will receive tax receipts for the premiums you pay (or on the policy’s cash surrender value if it is paid up).

If you name the Foundation as the beneficiary of the policy, but not its owner, your estate will receive a tax receipt when the Foundation receives the proceeds, and potentially reduce its tax burden. 

For more information on tax advantages, please contact your financial advisor. 

For more information on making a gift of life insurance, please contact Major Gifts/Planned Giving Officer Rena Molinari at (204) 477-3126 or at rmolinari@vgh.mb.ca.