Bequests and Planned Gifts
A Gift of Life Insurance
A gift of life insurance is an inexpensive way to create a significant legacy at Tafelmusik and an affordable way to make a difference. A modest annual premium paid over time will result in a significant future legacy.
Ways of gifting life insurance to Tafelmusik:
- Donate an existing policy and receive a donation receipt for the net cash surrender value (less any outstanding policy loans) and any premiums paid after date of transfer of ownership to Tafelmusik. A portion of the cash value could be taxable but would be offset by the donation receipt tax credit. This gift would be irrevocable
- Donate a new policy and receive a donation receipt for any premiums paid after the date of transfer of ownership to Tafelmusik. This gift would be irrevocable
- Assign Tafelmusik as the beneficiary of your policy, or the life insurance policy from your employer, and your estate will receive a donation receipt equal to the death benefit proceeds paid directly to Tafelmusik
Benefits of making a gift of life insurance to Tafelmusik:
- Receive a donation receipt based on the way the insurance was gifted
- Avoid probate. Gifts of life insurance are less susceptible to being contested than a charitable bequest, and provide privacy
To ensure that your particular needs are met and that your wishes are honoured, we recommend that you consult legal and/or financial advisors. At the same time, also contact us at Tafelmusik and let us know about your intentions. Not only can we answer any question you may have, we can also have a conversation about how you would like the proceeds from your gift put to use.
If you have already made arrangements for a legacy gift to Tafelmusik, please send us a completed Legacy Gift Confirmation form so that we may ensure proper administration and recognition of your gift.
Click here for Legacy Gift Confirmation Form
(PDF; 253k)
This form is in PDF format and requires Adobe Acrobat Reader. Don't have the reader? Download it free.
For more information on bequest gifts to Tafelmusik, please contact Michelle Yeung, Director of Development (Interim), at (416) 964-9562 ext. 240, or via e-mail myeung@tafelmusik.org.
