Charity Life Direct Insurance Program
The Charity Life Direct insurance program allows donors to provide for larger legacies tomorrow with a smaller commitment today.We Both Benefit: You receive a tax receipt for the entire amount donated each year. When the life insurance proceeds are transferred to Lakeland College, there is no additional tax receipt generated; but the funds are received by the charity tax-free.
It's Easy--With the Charity Life Direct program, your commitment is only for 3 or 5 years. The policy is fully paid for in that time.
It's Flexible--If for some reason you cannot continue with the payment of annual premiums (after the first year on a 3-year plan or after the second year on a 5-year plan) a percentage of the coverage will automatically become paid-up. This ensures that Lakeland College will receive a future gift.
- The gift is immediate, which also gives an immediate tax deduction.
- The donor’s confidentiality is assured - as life insurance is not a matter of public record.
- A gift of life insurance is flexible and can be designed to meet many legacy desires.
- There is no medical exam. Your acceptance is guaranteed upon confirmation of a general health statement.
- You can designate the funds to the area of your choice
- This program is available to individuals between 18 and 75 years of age
- This program is underwritten by BMO Life Assurance Company.
For more information visit the Charity for Life program website. En français.
