Legacy Giving to St Mike’s
Transfer an Existing Policy: Make St Michael’s both owner and beneficiary. You will receive a tax receipt for the full cash value of the policy, any accumulated dividends and provide an annual tax receipt for any future premium payments.
Start a New Policy: Make St Michael’s owner and beneficiary and receive a tax receipt for premium payments made after the policy is transferred.
Name St Michael’s as just the beneficiary and your estate will receive a tax receipt for the full value of the death benefit of the policy.
BENEFITS OF GIFTS OF LIFE INSURANCE
- Avoid probate – insurance death benefit proceeds pass outside of the donor’s estate
- Take advantage of tax savings now or defer the savings for your estate depending on the type of gift arrangement you choose.
Giving for the Future: Life Insurance. A gift of Life Insurance can become a gift of much greater value than its original cost when the policy is given to St Michael’s College.
For more information about making a planned gift to the University of St. Michael's College, please contact us in confidence at any time.
Phone: 416-926-2331 or 1-866-238-3339
Office of Alumni Affairs & Development
University of St. Michael’s College
81 St. Mary Street
Toronto ON M5S 1J4
Charitable Registration Number: BN 11927 9321 RR 001