A gift of life insurance is an easy and affordable way to transform small premium payments or an existing life insurance policy into a significant gift to benefit Vancouver Public Library Foundation. The insurance benefit will eventually be paid directly to VPL Foundation and is separate from your Estate, so there are no administrative costs or probate fees, and your gift has no effect on your Estate’s assets.
When considering a gift of life insurance, the option you choose depends on whether you want to receive a charitable tax receipt that can be used during your lifetime or by your Estate.
WAYS TO DONATE LIFE INSURANCE
Purchase a new life insurance policy and name Vancouver Public Library Foundation as the owner and beneficiary. The premiums you will pay qualify for a charitable tax receipt.
Donate an existing policy to Vancouver Public Library Foundation now. You will receive a charitable tax receipt for the fair market value of your life insurance policy.
Name Vancouver Public Library Foundation as the beneficiary of your existing life insurance policy. Your Estate will receive a charitable tax receipt when the proceeds are paid to VPL Foundation.