Gifting a Life Insurance policy is a great thing to do because:
- existing policies can easily be amended to name a charity as the beneficiary
- the reason or purpose of the policy may not apply any more
- the annual premiums or the insurance amount qualify for a charitable receipt
- the value of your gift will not be subject to probate fees on your estate
- it is low cost with low administration
- you will receive a tax credit
- it will grow into a much larger gift over time
