​There are various ways of making a gift of life insurance. The type of gift will depend on your client’s objectives, age and family situation.

Surrendering an existing policy. If you no longer need the protection of your life insurance policy, you may surrender it to a charitable organization and continue to pay any premiums still owing, if applicable. Note: this case constitutes a transfer and not a conversion.
Purchasing a new policy. If you wish to make an important donation but your means are modest, you can purchase a life insurance policy and subsequently name a charitable organization as beneficiary. In this case, it is always preferable to spread out the payment of the premiums over a limited period of time, for example three, five, seven or ten years. For each premium paid, you will receive a donation receipt for the amount of that particular premium.
Designating a charitable organization as the beneficiary of the death benefit. The organization may be named the beneficiary of the death benefit, in whole or in part, of a life insurance policy. It can also be a second or third beneficiary. This ensures protection of the death benefit, in the case where the first beneficiary of the policy passes away before the owner of the policy. The death benefit will then support the organization you have chosen.

In many ways, using a life insurance policy makes it possible to make a major gift while protecting the inheritance of one’s heir(s).

The gift of life insurance can generate significant tax savings for the donor. In order to benefit from these savings immediately, you must designate the organization as beneficiary and owner of the policy. You will then be issued a tax receipt for the fair market value of the policy, if applicable, and a receipt for each premium payment.

As your donation is made while you are living, there are no fiscal advantages for the estate. However, if you foresee that your estate will be left with a heavy fiscal burden, it may be more beneficial for you to name the organization as beneficiary of your policy, in part or in total, but remain its owner. This way, the donation is finalized at the death of the donor and the fiscal savings are awarded when settling the estate. In this case, you do not receive tax receipts for the premiums paid while living.​

One-time gifts as well as post-dated CHEQUES / MONEY ORDERS for planned giving throughout the year can be mailed to:

Kimmunity Angels Society
4017 Best Street
Terrace BC V8G 5R8

To enable us to send you an income tax receipt, please send us the following with your cheque:


Full legal name
Address - including postal code
Telephone and email address are optional



OPTIONAL:  If your gift is “in  Honor  of, orin  Remembrance  of or to  Celebrate  an occasion” and you would like us to send someone a card, please send us their name, address and any pertinent information that would help us to make our thank you card personal and our appreciations meaningful. 

GIFTS OF REAL ESTATE

donate

DIFFERENT TYPES OF DONATIONS

We accept Interac e-Transfers, which can be sent via online banking from participating financial institutions.

There is no processing fee deducted from your donation, however there may be a service fee charged by your financial institution.

To allow us to access your donation, please use the password:  Kimmunity 

If you'd like a tax receipt, please send the following information with your e-transfer:

Full legal name
Address - including postal code
Telephone and email address are optional

First time using e-Transfer?    ​​http://www.interac.ca/en/interac-etransfer/etransfer-detail

CHARITABLE BEQUESTS

Once you secure the well-being of your family and friends, you may choose to include in your will a significant donation to one or many charitable organizations.  If important changes occur in your life, you can always modify your will according to your situation.

A charitable bequest continues to be one of the simplest and most accessible means of planning a gift. Providing first for the well-being of one’s family and loved ones, you can also bequeath an amount or percentage of your assets to one or more charitable organizations of your choice. There are indeed many ways to do so:


  • Specific bequest (a fixed amount or identifiable asset);
  • Residual bequest (all or a percentage of the remainder of the estate after the payment of debts and specific bequests);
  • Designating a charity as contingent beneficiary in the event of death of the primary beneficiary;
  • Universal bequest (all of the assets, sometimes divided among many beneficiaries);
  • Designating a charity as beneficiary of an RRSP, RRIF or life insurance policy;
  • A simultaneous death clause whereby the charity inherits, should all the beneficiaries die at the same time.


In each case, a tax receipt will be issued for use in the final tax return. The fiscal advantages that follow from charitable bequests can dramatically reduce the taxes to be paid out by the estate.

You can donate a family residence to a charitable organization while continuing to use it until the end of your life. You will receive an income tax receipt of the commuted value of the asset at the time of the donation. At the time of death, the charitable organization will obtain the use of this residence. If real estate assets other than the primary residence are donated, 50% of the capital gain is taxable.

GIFTS OF LIFE INSURANCE