When you name CASA Foundation as the beneficiary of an insurance policy, you remain the owner and your estate receives a charitable tax receipt when the proceeds are paid out. If you choose to make CASA Foundation the owner and beneficiary of the policy, you take advantage of current tax benefits.
The proceeds from life insurance policies may be directed to the CASA priority that interests you.
Ways of gifting life insurance to CASA
By transferring ownership of an existing policy to CASA Foundation and designating CASA as the irrevocable beneficiary, you will receive a tax receipt for premiums paid after the date of transfer and a tax receipt for the net cash surrender value at the time the gift is made (less any outstanding policy loans).
By taking out a new life insurance policy with CASA Foundation irrevocably designates as the beneficiary and owner, you will receive a receipt for income tax purposes for the policy premiums you pay each year.
New or Existing Policies
By assigning CASA Foundation as beneficiary of your policy, or the life insurance from your employer, your estate will receive a tax receipt equal to the death benefit proceeds paid directly to CASA,
Benefit of Naming CASA Foundation as an Insurance Policy Beneficiary
By working with CASA Foundation to create a letter of intent, you can designate your gift to a priority that meets your interests.
When you name CASA Foundation as the beneficiary of the policy, you remain the owner and your estate receives a charitable tax receipt when the proceeds are paid out. If you choose to make CASA Foundation the owner and beneficiary, you take advantage of current tax credits.
A gift of life insurance is an affordable way to make a significant difference.
For more information on this or other ways to support CASA Foundation, please contact: