You can donate life insurance by transferring ownership and beneficiary status of an existing or new policy to the Red Door Family Shelter, or, you can simply name the Red Door as the beneficiary of your policy.
Gifts of life insurance are made by transferring ownership of an existing or new policy to the Red Door Family Shelter. You receive a tax receipt for premiums paid after the date of transfer. You can also name the Red Door as a beneficiary of your policy—the resulting tax credit will reduce estate taxes and increase the after-tax value of your estate for other beneficiaries.
A gift of life insurance is an affordable way to make a difference. A modest annual premium paid over time will result in a significant future legacy.
- Give an already paid-up policy and receive a donation receipt for the cash value of the policy.
- Give an existing policy on which premiums are still being paid, and in return, receive a receipt for the cash value of the policy and subsequent premium payments.
- Purchase a new policy, transfer ownership to the Red Door Family Shelter, and receive a tax receipt for all payments on the premiums.
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Retain ownership of the policy and name the Red Door Family Shelter as the direct beneficiary and, when you pass away, your estate will receive a receipt for the face value of the policy.